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

Question

Quizplus · Accepted Answer

The balance of Accumulated Depreciation is carried forward to the next accounting period because it is a contra-asset account that tracks the total depreciation charged on an asset since its acquisition. This balance is used in conjunction with the book value of the asset to determine its salvage value and the total depreciation expense in future accounting periods.

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