At their April 21, 2016 meeting, the Forsyth County Board of Commissioners proclaimed May 5, 2016 as âDay of Prayerâ in Forsyth County. All are invited to meet outside of the Forsyth County Courthouse in downtown Cumming at 10 a.m. on May 5, for observance of âDay of Prayer.â.
The accumulated depreciation account is an asset account with a credit balance (also known as a contra asset account); this means that it appears on the balance sheet as a reduction from the gross amount of fixed assets reported.
A computer bought in 2008 for $2,000, for instance, can't be listed on a company's balance sheet in 2011 as an asset valuing $2,000 (and doing so would constitute fraud). In order to calculate basic depreciation, a company just needs two numbers: the initial cost of the asset and its estimated useful life..