Ask Experts Questions for FREE Help !
Ask
    kekebrown's Avatar
    kekebrown Posts: 20, Reputation: 0
    New Member
    		  
    #1

    Sep 14, 2008, 07:29 PM
    Depreciation Expense and Accumulated Depreciation are classified,respectively, as:
    Depreciation Expense and Accumulated Depreciation are classified,respectively, as:

    a. expense, contra asset
    b. asset, contra liability
    c. revenues, asset
    d. contra assest, expense

    I think it is A
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Oct 22, 2008, 05:49 PM

    Depreciation Expense is an Expense Account.
    Accumulated Depreciation is a Contra Asset Account.
    muslimrao's Avatar
    muslimrao Posts: 34, Reputation: 2
    Junior Member
    		  
    #3

    Oct 28, 2008, 12:13 PM
    You.. Its a..
    petrah's Avatar
    petrah Posts: 1, Reputation: 1
    New Member
    		  
    #4

    Apr 3, 2012, 04:39 PM
    A is the answer.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Accumulated depreciation [ 1 Answers ]

Adjusting entries for Dec. 2007 The buildings have a $10,000 residual value and a 40-year useful life. The straigh-line depreciation method is used. The building was purchased on July 6, 2006. Please, does anyone know how to work this problem?

Accumulated depreciation [ 1 Answers ]

Not sure if there is a trick or not? The question is to adjust the entries at the end month The info given is that :Office equipment is fully depreciated over a period of 5 years. (straight line depreciation) Cx bought only a typewriter for $ 421 for the month of July

Accumulated Depreciation [ 2 Answers ]

When journalizing after a company just purchases a piece of machinery, do you use accumulated depreciation or something else?:confused:

Depreciation & Accumulated Depr [ 1 Answers ]

Hi all, To my understanding, depreciation expense is always DR, and accumulated depreciation is CR, right? However, I am quite confused on whether does an accumulated depreciation becomes DR? Or when it will become DR instead of CR? For example, An equipment of expected useful life 5 yrs...

At end of year what do I do with accumulated depreciation? [ 1 Answers ]

At the end of the year what do I do with the Accumulated Depreciation Account?

View more questions Search