Which of the following account's balance is carried forward to the next accounting period?
A)Accumulated Depreciation
B)Depreciation Expense
C)Owner's Name, Withdrawals
D)Sales Revenue

Question

Quizplus · Accepted Answer

Accumulated Depreciation is a contra-asset account, which means it has a credit balance that offsets the debit balance of the related asset account. The balance in Accumulated Depreciation increases with each period's depreciation expense, and this balance is carried forward to the next accounting period.

Which of the Following Account's Balance Is Carried Forward to the Next