Ask Question
BusinessBusiness
17 April, 23:27

What does the credit balance in the accumulated depreciation account represent?

+1
Answers (1)
  1. 17 April, 23:35
    0
    The credit balance in the accumulated depreciation account represent: the amount of depreciation taken in past years

    In accounting, we must reduce the value every year we held an asset in order to show the true amount of the total asset values. This occurence is called a depreciation. If the amount of depreciation is add-up for several years, this account is called accumulated depreciation
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “What does the credit balance in the accumulated depreciation account represent? ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
1. Requires that accounting standards be followed for all items of significant size. 2. Separates financial information into time periods for reporting purposes. 3. Requires recognition of expenses in the same period as related revenues. 4.
Answers (1)
If a number of newspapers published stories exposing an elected official's acceptance of monetary bribes from a corporation in exchange for passing a particular law, it would be an example of the media serving in their role as A. a first branch. B.
Answers (1)
Relative to a given bond issue, using either the straight-line method or the effective-interest method of amortization will result in Select one: a. the same amount of interest expense being recognized each year. b.
Answers (2)
Strategic planning is the overarching goal of a company. true false
Answers (2)
On the basis of the details of the following fixed asset account, indicate the items to be reported on the statement of cash flows: The reporting statement of fixed asset account is shown.
Answers (1)
New Questions in Business
Which of the following statements is true of expatriate managers? a. They are managers who work abroad. b. They are managers who work in domestic firms. c. They are managers who work for the emerging economies they are a part of. d.
Answers (1)
An industry with oligopolistic competition faces falling profits and its sales growth is slow. Demand for individual brands has become quite elastic--as consumers see competing products as almost homogeneous. Several firms have dropped out.
Answers (1)
Ros Corporation's flexible budget cost formula for indirect materials, a variable cost, is $0.90 per unit of output.
Answers (1)
The process by which goods, services, or ideas are used and transformed into value is referred to as cost behavior analysis.
Answers (1)
Globalization increases the interdependency of the world's countries. Inflation in one country would most likely
Answers (1)
Home » Business » What does the credit balance in the accumulated depreciation account represent?
Sign Up Forgot Password?