Is accumulated depreciation an asset?

[Blakelee]

Working on a balance sheet and I’m confused. I know it’s related to equipment, but is accumulated depreciation an asset? It has a credit balance, which feels like a liability, but it's sitting in the asset section. How do I record this without messing up the whole equation?

 

[Oscar]

No, accumulated depreciation is not an asset. It is a contra-asset account that reduces the book value of a fixed asset on the balance sheet, reflecting total depreciation recorded over time.

 

[Peter]

No, accumulated depreciation is not an asset. It is a contra asset account, meaning it reduces the value of a fixed asset on the balance sheet. It shows the total depreciation expense charged over time against an asset.

 

[alexmetro]

No, it is no asset, it is a contra-asset. It is under assets since it decreases the value of your equipment and the credit balance merely counterbalances the asset, but not your liabilities- worry not, your equation is also safe