par admin@crea-tic.net | Juil 6, 2021 | Bookkeeping
After the truck has been used for two years, the account Accumulated Depreciation – Truck will have a credit balance of $20,000. After three years, Accumulated Depreciation – Truck will have a credit balance of $30,000. Each year the credit balance in this...
par admin@crea-tic.net | Avr 15, 2021 | Bookkeeping
The contra asset account netbook value of the machinery by the end of the first year will be $80,000 ($100,000-$20,000) and $60,000 ($100,000-$40,000) by the end of the second year. This method helps a third person identify what the book value was at the time of...
