22 авг. 2023 г. · A contra account is an asset account that is kept at either a negative or zero balance and is used on a balance sheet to offset the positive ...

A contra account is an entry on the general ledger with a balance contrary to the normal balance for that categorization (i.e. asset, liability, or equity).

A contra account is a general ledger account with a balance that is opposite of the normal balance for that account classification.

A contra account is a negative account that is netted from the balance of another account on the balance sheet. The two most common contra accounts are the ...

2 июл. 2024 г. · Contra in accounting is an asset account with a zero or a negative value balance. A contra asset account is opposite to the asset account.

2 нояб. 2024 г. · A contra account offsets the balance in another, related account with which it is paired. The natural balance of a contra account is the reverse ...

Key Highlights · A contra asset account is an asset account in which the natural balance of the account will either be a zero or a credit (negative) balance.

A contra account is a holding bay for transactions that come in and go straight back out. A common use of the contra account is for a cheque that bounces.

in a company's double-entry bookkeeping, an account relating to a business that supplies goods, etc. to the company as well as being a customer.