So on one hand we have Depreciation Expense. On the other, we have Accumulated Depreciation. What is the difference between these two accounts?
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So on one hand we have
What is the difference between these two accounts?
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- Is the Accumlated Depreciation and Depreciateion expense both positive numbers?LO1 Depreciable cost is the difference between the original cost of the asset and its accumulated depreciation.Which of the following are not “non-cash” expenses? a) Depreciation expense b) Prepaid expense c) Depletion expense d) Amortization expense
- Which sentence is incorrect? Select one: a. Depreciation is not the actual change in the value of the asset. b. Accumulated Depreciation account has effects on the cash flow statement. c. Accumulated Depreciation is called a contra asset account. d. Depreciation is the process of allocating the cost of an asset to expense, not a valuation process.Explain why depreciation expense is added back to net income and why an increase in inventories is deducted from the net income.How does the concept of depreciation work in accounting, and what methods are commonly used to calculate and record depreciation expenses?