Journal Entry For Accumulated Depreciation On Equipment

The Adjusting Journal Entry to record for Accumulated Depreciation on equipment is shown below:

Depreciation Expense Account - Equipment  XXX

 

                                                                              Accumulated Depreciation a/c - Equipment XXX

 

                                                   (Depreciation On Equipment Recorded For The Period)

What Kind Of Account Is Accumulated Depreciation Equipment?

Depreciation Expense Account is recorded in Income Statement while Accumulated Depreciation on equipment is a Contra Asset Account and deducted from the cost of Equipment on balance sheet.