Assuming a normal balance, which of the following is correct concerning the balance sheet columns of the work sheet?
A) Accumulated Depreciation is shown as a debit.
B) Accumulated Depreciation is shown as a credit.
C) Depreciation Expense is shown as a debit.
D) Depreciation Expense is shown as a credit.

Question

Quizplus · Accepted Answer

Accumulated Depreciation is a contra asset account, meaning it reduces the value of the asset it is associated with. As a result, it has a credit balance. Depreciation Expense, on the other hand, is an expense account and therefore has a debit balance.

Assuming a Normal Balance, Which of the Following Is Correct