Accumulated Depreciation
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Description
A contra-asset account shown as a deduction for the related asset account in the balance sheet. Depreciation taken throughout the useful life of an asset is accumulated in this account.
Concept Prerequisite
Wikipedia Reference
http://en.wikipedia.org/wiki/Accumulated Depreciation#Accumulated depreciation
Learning Material
Covered in Topic(s)
| The Accounting Cycle: Accruals & Deferrals |