Accumulated Depreciation is a (an) ------------------- account. The normal balance of this account is a -------------------.
|Accumulated Depreciation is a (an)Contra asset account .The normal balance of this account is a credit Balance.|
|1||Accumulated Depreciation is a contra asset it means reduces a regular asset.For example Fixed Asset.|
|2||Gross Fixed asset less accumulated depreciation is the net fixed asset.|
|3||The normal balance of the account is a Credit balance.|
|4||Asset have a normal debit balance & accumulated depreciation have a normal credit balance.|
|5||Accumulated Depreciation should be a credit balance as it is a contra - asset account.|
|6||General entry is :|
|Depreciation expenses a/c||debit|
|Accumulated Depreciation a/c||credit|
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