Short term notes on Accumulated depreciation accounting system
Accumulated depreciation- It is a contra asset account usedto offset an asset which involves depreciating. The accumulated depreciationaccount is credited when an asset is recorded. It shows the balance thatrepresents the amount of cumulative depreciation expense having been recognizedsince the asset was placed in to service. The assets that are subject todepreciation are: Buildings, machinery, office equipment, furniture, fixturesand vehicles etc.