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Is depreciation a asset or liability?

In: Financial Statements [Edit categories]

Answer:

The accumulated depreciation is a liability although it is netted off with the assets they relate to so they are shown in the asset part of the balance sheet.
The depreciation charge for the year is an expense and charged to the income statement.

First answer by Andrew Bushell. Last edit by Andrew Bushell. Contributor trust: 7 [recommend contributor ]. Question popularity: 1 [recommend question].

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