Where do I record accumulated depreciation on sold assets?
submitted by m

berry bill

When you sell an asset, you record its accumulated depreciation in the "Accumulated Depreciation" account. It's a contra asset account.

You'll also need to subtract the accumulated depreciation and the asset's original cost from your total assets.

johnny b goode

You should record the accumulated depreciation in the same account where you keep track of depreciation. That's usually a contra-asset account called accumulated depreciation.