Depreciation STILL being classified as current liability (RESOLVED)

[Sameera]

I had a similar issue, see my post below. As an accountant I don’t understand it…

Asset account becoming liability due to negative balance

No sure, what subject to include for this. This is just a layout of the balance sheet issue (at least for me). I have asset account under code 0015. This account balance appeared under assets as long as it has a debit (positive) balance. This is a ‘revaluation of market value account’, so as long as it’s positive, it means the market value of the cost of asset at code 0014 is higher. However, the market value dropped so 0015 has a negative balance. So this is the first time I noticed in QF t…