Difference between revisions of "Accumulated Depreciation"
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| − | [[Accumulated Depreciation]] ( | + | [[Accumulated Depreciation]] (hereinafter, the ''Account'') is a contra-asset account that summarizes or accumulates the amount of depreciation that has been taken on an asset. |
==Definitions== | ==Definitions== | ||
According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
| − | :[[Accumulated Depreciation]]. | + | :[[Accumulated Depreciation]]. A contra-asset account that summarizes or accumulates the amount of depreciation that has been taken on an asset. |
==Related concepts== | ==Related concepts== | ||
Revision as of 11:23, 17 December 2018
Accumulated Depreciation (hereinafter, the Account) is a contra-asset account that summarizes or accumulates the amount of depreciation that has been taken on an asset.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Accumulated Depreciation. A contra-asset account that summarizes or accumulates the amount of depreciation that has been taken on an asset.
Related concepts
- Bookkeeping. Recording, filing, and retrieving of financial data, as well as producing those financial reports that are required by laws.
