Accumulated Depreciation Contra Account
in
Accounting and Financial Statement Analysis
/
Course Challenge - Build a P&L and a Balance Sheet from Scratch
I seem to remember back during my college days of learning accounting an accumulated depreciation account (which was a contra account). Wouldn't you have a Depreciation Expense (Debit: $20,000,000) on the Income Statement and an Accumulated Depreciation (Credit: $20,000,000) on the Balance sheet?
1 answers ( 0 marked as helpful)
I actually don't understand also the salvage value and the depreciation thing