Does the balance of the Accumulated Depreciation, Machinery account represent funds accumulated to replace the machinery when

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Does the balance of the Accumulated Depreciation, Machinery account represent funds accumulated to replace the machinery when it wears out?

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Fundamental Accounting Principles Volume II

ISBN: 978-1259066511

14th Canadian Edition

Authors: Larson Kermit, Jensen Tilly

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Question Posted: Jan 08, 2015 08:28 AM

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Does the balance in the Accumulated DepreciationMachinery account represent funds to replace the machinery when it wears out? If not, what does it represent?
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Does the balance of the Accumulated Depreciation, Machinery account represent funds accumulated to replace the machinery when

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No The Accumulated Depreciation Machinery account is a contra asset account with a credit balance ...View the full answer

Fundamental Accounting Principles Volume II

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