Is the normal balance for Accumulated Depreciation a debit or credit balance?

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College Accounting A Contemporary Approach

ISBN: 9781265647308

6th Edition

Authors: M. David Haddock, John Price, Michael Farina

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Question Posted: Sep 28, 2023 02:36 AM

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Income Statement Sales $250,000 Costs $120,000 Other Expenses $20,000 Depreciation $15,000 EBIT $95,000 Interest $29,000 Taxable Income $66,000 Taxes $23,100 Net Income $42,900 Dividends $12,870...
Sales Costs Other Expenses Depreciation EBIT Interest Taxable Income Taxes Net Income Dividends Retained Earnings $250,000 $120,000 $20,000 $15,000 $95.000 $29,000 S66,000 S23,100 $42.900 $12.870...

Is the normal balance for Accumulated Depreciation a debit or credit balance?

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College Accounting A Contemporary Approach

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