Check out our NEW line of Home Care products from Bayes & Odor Assassin in our Cleaning Supplies Sections. We are an authorized independent dealer of Kirby vacuum bags and parts. All of our Kirby supplies are purchased from an authorized Kirby vacuum parts distributor. The Kirby company website address is www.kirby.com.
Accumulated other comprehensive income is a general ledger account that is classified within the equity section of the balance sheet. It is used to accumulate unrealized gains and unrealized losses on those line items in the income statement that are classified within the other comprehensive income category.
Accumulated depreciation is the grand total of all depreciation expense that has been recognized to date on a fixed asset. As such, it is considered a contra asset account, which means that it contains a negative balance that is intended to offset the asset account with which it is paired, resulting in a net book value. Accumulated depreciation is classified separately from normal asset and liability accounts, for the following reasons: