True or false: Accumulated Depreciation is a contra-account to a long-lived asset account, such as Equipment. This means that it is added to the balance of the long-lived asset in the balance sheet.

Question

04-02-2020
Business

contestada

True or false: Accumulated Depreciation is a contra-account to a long-lived asset account, such as Equipment. This means that it is added to the balance of the long-lived asset in the balance sheet.

Respuesta :

Otras preguntas

The janitor found that it was leaking at a rate of 6 fl oz per minute. How fast was the pipe leaking in gallons per hour?

In your own words, explain how economic problems, perestroika, and glasnost contributed to the fall of the Soviet Union.

This is so hard please help

What http request header is used to denote what uri linked to the resource being requested?.

Define the term voting

plz, help me with my last question.

Write the slope-intercept form of the equation of each line

What is the difference between 35-(-8)

Please answer my questions 3, 15, and 18. I would really appreciate it thanks!

WILL MARK BRAINIEST!!! Read the excerpt from chapter 8 of Pride and Prejudice by Jane Austen. How does the economic context of the setting directly affect Miss

osondumartins osondumartins · Answer 1 · 2020-02-04T06:32:36+01:00

Answer:FALSE

Explanation: Accumulated depreciation is a negative account (contra-account) which Describes the total depreciation amount allotted to an asset since it is put into use. Accumulated depreciation is not added to the balance of the long lived asset in the balance sheet.

When an organization prepares it's balance sheet,it ensures that the depreciation schedule is recorded for all it's assets ensuring that both the cost of the equipment and it's depreciation is documented accordingly. Accumulated depreciation reduces the value of the assets in the balance sheet when added.