Accumulated depreciation shows up in the income statement, while depreciation expense shows up on the balance sheet.

Question

Quizplus · Accepted Answer

Accumulated depreciation is a contra-asset account that reduces the value of the asset on the balance sheet. Depreciation expense, on the other hand, is an expense that is recorded in the income statement. Therefore, accumulated depreciation does not show up on the income statement.

Accumulated Depreciation Shows Up in the Income Statement, While Depreciation