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
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