why is the allowance for depreciation a credit balance? I thought since depreciation is treated as an expense it should be debited.
With regard to the previous question on tangible i was able to deal with it but i have to revise the chapter against to clear out some doubts.
The accumulated depreciation is always a credit balance because the reduces the value of the asset on the SOFP.
yes if i view it like that its definitely credit. thx
You are welcome 🙂
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