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Accumulated depreciation is the total amount a company depreciates its assets, and depreciation expense is the amount a company's assets are depreciated for a single period. Essentially, accumulated depreciation is the total amount of a company's cost that has been allocated to depreciation expense since the asset or assets have been put into use. The accumulated depreciation account is an asset account on a company's balance sheet with a credit balance.
To record depreciation expense Note that after recording the 19X6 depreciation expense, the balancein Accumulated DepreciationâEquipment is $2,000 ($1,000 deprecia-tion for 19X5 + $1,000 depreciation for 19X6).epreciation for each asset is usually calculated separatelyand is based on four factors:a. the assetâs cost; b. the assetâs estimated life; c. the assetâs residual value (its book value after being fully depreciated); andd. the method of depreciation selected.