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Accumulated "Depreciation" is recorded on Income Statement or Balance Sheet?

photo Deprication_zpsbzez7fis.jpg

1. Income Statement

2. Balance Sheet

3. Both

4. None

Accounting Financial Reporting Financial Accounting Accounting and Finance
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Question ajoutée par Mehboob Ali Laghari , Social Mobilization Team Incharge , TRDP-European Union
Date de publication: 2015/08/15
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Shahbaz Hayder
par Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option2 is the right answer.

Muhammad Aamir Islam
par Muhammad Aamir Islam , Receivable Accountant , Miral Experiences (Shared Services)

Accumulated depreciation on Balance sheet and Depreciation on Income statement. 

Sohail Lone
par Sohail Lone , Assistant Manager Audit , Deloitte - United Arab Emirates

      Depreciation expense -Dr   (Income Statement)

Option2 .                   Accumulated Depreciation-Cr( Balance Sheet)

Ahmed kandil
par Ahmed kandil , Cost Controller , Battour Holding Cpompany

Balance sheet is the correct answer 

Thank you 

 

Hossam Mohamed
par Hossam Mohamed , Senior Accountant , Allied Arab Assurance Brokerage

Answer is Balance sheet (contra asset).

Ashraf Farouq Metwally
par Ashraf Farouq Metwally , Head Of Treasury , Alshamel International Holding Company

Accumulated depreciation in the Balance Sheet 

Said Shaban
par Said Shaban , Accountant , Tri State Materials Testing

The answer is:2. Balance Sheet ..

Hamid Hafeez
par Hamid Hafeez , Senior Accountant , Distinctive Flavor Company

Accumulated depreciation is recorded in Statement of Financial Position as it represents the provision for lost value of asset

Hariharan Pathmanathan
par Hariharan Pathmanathan , Senior Financial Accountant/Analyst , Shanfari & Partners Co. LLC

The correct Answer is option2. Balance Sheet.

Imdad Hussain Rajput
par Imdad Hussain Rajput , Assistant Sales Manager , Forego

Agree with all answers//////////////////

Pradeep Singh.
par Pradeep Singh. , Manager Accounts, Finance & Importation , Amadora Group of Companies

It will recorded in the balance sheet if we book the fixed assets on cost basis otherwise accumulated depreciation is deducted from the cost price of the assets in the depreciation chart & booked the assets on WDV

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