An accumulating contra-asset account for an asset that is depletable, such as a mine. The balance in this account will be subtracted from the asset account when it is shown on the balance sheet, thus giving rise to the term contra-asset.
Related information about accumulated depletion:
- accumulated depletion definition | AccountingCoach.com
The cumulative amount of depletion expense pertaining to the natural resources shown on the balance sheet. The account has a credit.
- Accumulated Depletion - Financial Dictionary - The Free Dictionary
A total reduction to the value of an asset over time. Accumulated depletion comes about as a result of the physical reduction of the asset's features. For example ...
- What is accumulated depletion? definition and meaning
Definition of accumulated depletion: An accumulating contra-asset account for an asset that is depletable, such as a mine. The balance in this account will be ...
- Accumulated Depletion: Definition from Answers.com
Accumulating contra - asset account for a depletable asset, such as a mine. The balance in this account is subtracted from the asset account when shown.
- Accounting Principles I: Natural Resources
Instead of using a contra-asset account to record accumulated depletion, companies may also decrease the balance of natural resources directly. Therefore ...
- accumulated depletion Definition | Business Dictionaries from ...
accumulating contra-asset account for a depletable asset, such as a mine. The balance in this account is subtracted from the asset account when shown on the ...
- What Other Types of Contra Accounts Are Recorded on the Balance ...
Accumulated depletion accounts for the reduction of value in a natural resource. ... The amount of the decline is recorded in the accumulated depletion account.
- Financial Accounting and Accounting Standards - UCSB Economics ...
Illustration: Callahan Mining had a retained earnings balance of $1,650,000, accumulated depletion on mineral properties of $2,100,000, and share premium of ...