A contra-asset account such as Accumulated Depreciation will likely have which balance? a) Debit b) Credit

The answer is Credit. Debit contra account  always violate the cost principle. It is either A credit Balance or Zero Balance.

Correct answer is Credit Balance , as it reduces the Asset balance and is an appropriation from the Net profits.

accumulated depreciation have credit balance

Accumulated depreciation ( a contra account )  will likely have a credit balance .

A contra- asset account such as accumulated depression will likely have debit balance.

As per accounting concept Debit which comes in and Credit which goes out, here the accumulated depreciation something which the company is loosing on its assets. Therefore it is Credit balance in Contra Asset a/cs.

 Please correct me if my understanding is wrong. Thanks.

b) . Credit Balance as accumulated depreciation contra to asset is credit