Ask Experts Questions for FREE Help !
Ask
    zakhele's Avatar
    zakhele Posts: 2, Reputation: 1
    New Member
     
    #1

    Jul 13, 2012, 02:26 AM
    Accumulated depreciation
    Why it is credited on trial balance
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
     
    #2

    Jul 13, 2012, 06:51 AM
    Because it is a Contra Asset account. Contra accounts offset another account. For example an asset has a normal Debit balance, so the corresponding contra account will have a normal Credit balance because it is offsetting(reducing) the asset account.

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 and Depreciation Expense [ 10 Answers ]

I have accumulated depreciation and depreciation expense. Do they go together on the Asset side of the balance sheet? My balance sheet is not balancing! The accumulated depreciation is subtracted from the assets on my balance sheet. If I add the depreciation expense to the assets, my balance...

Depreciation Expense and Accumulated Depreciation are classified,respectively, as: [ 3 Answers ]

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

Depreciation Expense & Accumulated Depreciation HELP! [ 1 Answers ]

At the beginning of 2008, Lehman Company acquired equipment costing $90,000. It was estimated that this equipment would have a useful life of 6 years and a residual value of $9,000 at the time. The straight-line method of depreciation was considered the most appropriate to use with this type of...

Depreciation Expense and Accumulated Depreciation are classified, respectively, as [ 2 Answers ]

Depreciation Expense and Accumulated Depreciation are classified, respectively, as


View more questions Search