Respuesta :
The correct answer to the given question about Accumulated Depreciation is option C) is a contra asset account
The total amount of depreciation applied to an asset up to a particular point is known as accumulated depreciation. The beginning cumulative depreciation balance is increased with each period's depreciation expense. In the balance sheet, an asset's carrying value is determined by subtracting its accumulated depreciation from its historical cost. An asset's carrying value on the balance sheet will correspond to its salvage value at the end of its useful life.
A business credits accumulated depreciation and debits depreciation expense when recording depreciation in the general ledger. When it is incurred, depreciation expense is transferred to the income statement. On the balance sheet, accumulated depreciation is shown underneath the related capitalized assets line.
Question
Accumulated Depreciation:
a) is used to show the amount of cost expiration of intangibles
b) is the same as Depreciation Expense
c) is a contra asset account
d) is used to show the amount of cost expiration of natural resources
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