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日期:2024-07-11
Contra Account Overview A contra account offsets the balance in another, related account with which it is paired. If the related account is an asset account, then a contra asset account is used to offset it with a credit balance. If the related account is...
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日期:2024-07-08
contra account An account with a balance that is the opposite of the normal balance. For example, Accumulated Depreciation is a contra asset account, because its credit balance is contra to the debit balance for an asset account. Another example is the ow...
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日期:2024-07-11
What is a contra account? A contra account is a general ledger account which is intended to have its balance be the opposite of the normal balance for that account classification. For instance, a contra asset account is intended to have a credit balance i...
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日期:2024-07-09
Definition of contra account: An account which offsets another account. A contra-asset account has a credit balance and offsets the debit balance of the... Home Articles Tips Videos Browse by Subject Term of the Day InvestorWords.com - Online Investing Gl...
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日期:2024-07-07
Contra account is an account that appears as a subtraction from another account on balance sheet of a company. For example, provision for bad debts is a contra account of ......
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日期:2024-07-06
The account listed with the main asset account is called a contra asset account. Similarly, the account listed with the main liability account is called a contra liability account. The contra account is not an asset or liability in itself, but an account ...
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日期:2024-07-09
A contra account is any account carrying a balance to offset the balance of a related account. Companies use a contra account to... ... I used to run a small store and one customer was also a supplier of goods for me. Initially, I tried to keep track of s...
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日期:2024-07-06
A liability account that is debited in order to offset a credit to another liability account. ... DEFINITION of 'Contra Liability Account' A liability account that is debited in order to offset a credit to another liability account....