Why is previous year balance of accumulated depreciation transferred to the CREDIT SIDE of accumulated depreciation account as balance b/d?
Dear Student,
All kinds of Reserve, Provision and Funds have Credit Balance. And Accumulated Depreciation is a kind of Provision, that's why it has a credit balance.
Regards
All kinds of Reserve, Provision and Funds have Credit Balance. And Accumulated Depreciation is a kind of Provision, that's why it has a credit balance.
Regards