Accumulated Depreciation: Definition & Formula

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What type of account is accumulated depreciation?

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1. What type of balance can you expect to see in an accumulated depreciation account?

2. What will be the balance in the accumulated depreciation account for an asset that was depreciated by $500 per year for four years?

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About This Quiz & Worksheet

Using these assessments, you can assess your understanding of accumulated depreciation and characteristics that this type of account represents. You will need to know how to calculate this type of depreciation in order to pass the quiz.

Quiz & Worksheet Goals

This quiz/worksheet combo helps you review:

  • What accumulated depreciation is the difference between
  • Calculating the current value of equipment
  • Type of balance in an accumulated depreciation account
  • The type of account that accumulated depreciation is

Skills Practiced

This quiz and worksheet can help you test out these skills:

  • Reading comprehension - ensure that you draw the most important information from the related lesson on accumulated depreciation
  • Interpreting information - verify that you can read information regarding an accumulated depreciation account and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about calculating the current value of equipment

Additional Learning

To learn more about accumulated depreciation, check out the lesson called Accumulated Depreciation: Definition & Formula. This lesson will help you:

  • Determine what accumulated depreciation means
  • Identify the formula used to calculate accumulated depreciation
  • Understand what a contra-asset account is
  • Understand how to calculate accumulated depreciation
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