It is the amount of depreciation already taken against an asset. Assume a computer costs Rs 60,000, and has an expected life of 5 years and no residual value. Assuming an annual depreciation of Rs 12,000 accumulated depreciation after 3 years would stand at Rs 36,000 (The number of years, that is 3 multiplied by Rs 12,000 of annual depreciation).
the decline in the useful value of a fixed asset due to wear and tear from use over time. Page 327
A contra-asset valuation account used to record the accumulation of periodic credits made to reflect the expiration of the estimated useful life of capital assets.
A financial reporting term for a contra-asset account that shows the total depreciation charges for an asset since acquisition.
The sum of annual depreciation deductions taken to date. Also, accrued depreciation.
The aggregate depreciation recorded for a particular depreciable asset.
The total of the expired costs of any one asset.
The total amount of depreciation expense recorded to date for the company's fixed assets. On the balance sheet, this value is subtracted from the gross value of Property, Plant and Equipment to derive a net figure.
The sum of all depreciation previously deducted from the historical cost of an asset.
Accumulated value of depreciation, which has been presented as a depreciation of fixed capital from the moment it has been bought by the company.
The total depreciation taken on an asset since it was acquired.
Is the amount of depreciation already taken against an asset. Assume that a computer costs $6,000 and has an expected life of 5 years and no residual value. After 3 years the accumulated depreciation would be $3,600 (3 x $1,200 annual depreciation).
An account to which estimated depreciation is added.
In accounting, the total amount of depreciation or cost recovery expense that has been claimed for a specific asset since purchase of the property to date. Upon sale of a property, it is subtracted from the original cost plus capital additions to a property to find the adjusted basis. The adjusted basis is then subtracted from the sale proceeds to find the capital gain for income tax purposes
The aggregate depreciation recorded for a particular depreciating asset.
Total depreciation pertaining to an asset or group of assets from the time the assets were placed in services until the date of the financial statement or tax return. This total is the contra account to the related asset account.
The total depreciation recorded on an asset since its acquisition; a contra account deducted from the original cost of an asset on the balance sheet.
(A76) The total amount of depreciation taken to date.
The aggregate, at a given point of time, of the depreciation charges relating to a fixed asset made against revenue during the useful life of the fixed asset for the purpose of allocating the depreciable costs of the asset to the revenues the asset generates; when deducted from the historical cost or revalued amount of an asset it yields the book value
A contra-asset account used to accumulate the depreciation expense of fixed assets over their estimated service life.
Total depreciation (wearing allowance) that an asset has on a balance sheet, from the asset's acquisition, until the asset is disposed of by the business.
A balance sheet account indicating the amount of depreciation expense taken on plant and equipment up to the balance sheet date.
Accumulated depreciation is the total depreciation taken for an asset since it was placed in service. Also known as life-to-date depreciation and depreciation reserve. Accumulated depreciation is an account in the asset section of the balance sheet that s
The total depreciation recognized and recorded for an asset since its acquisition. Accumulated depreciation has a normal credit balance and is a contra asset. It is subtracted from the asset’s original cost to determine net asset value.
The amount of a long term asset's cost that has been allocated to Depreciation Expense since the time that the asset was acquired. Accumulated Depreciation is a long-term contra asset account (an asset account with a credit balance) that is reported on the balance sheet under the heading Property, Plant, and Equipment. To Top