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Debits and credits - Wikipedia


In double entry bookkeeping, debits and credits are entries made in account ledgers to record .... Example: Classify what type of account the business "Bank account" is. The bank account o...

What is a contra account? - Questions & Answers - AccountingTools


Mar 19, 2013 ... The contra liability account is less common than the contra asset account. An example of a contra liability account is the bond discount account, ...

contra account definition | Dictionary | AccountingCoach


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  ...

What is a contra account? | AccountingCoach


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.

Account, Contra Account, Chart of Accounts Examples Defined


The terms Account, Chart of Accounts, Contra Account, and Valuation Allowance are defined, explained, and illustrated with accounting system examples.

www.ask.com/youtube?q=Examples of Contra Accounts&v=Eye5DdhXjGo
Sep 4, 2012 ... How a contra account is used (works opposite) demonstrated by (Discount to Bonds Payable), used as a balancing account between the asset ...

What is a Contra Asset Account? | Double Entry Bookkeeping


Feb 4, 2016 ... In bookkeeping terms, a contra asset account refers to an account which is ... The two most common examples of contra asset accounts are the ...

Contra Account: Definition & Examples - Video & Lesson Transcript ...


General ledger accounts will have a debit or credit normal balance, and contra accounts that offset the parent account. This lesson will explain...

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Jul 28, 2011 ... Examples of contra accounts include - Allowance for Bad Debts (to Accounts Receivable). Bad Debt expense (to Sales), Accumulated ...

Contra Account - Money-zine.com


A contra account is used to offset a corresponding asset, liability, or equity ... Treasury stock and drawing accounts are examples of contra equity accounts.

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Contra Account | Example | Explanation | My Accounting Course


A contra account is an account with a balance opposite the normal accounts in its category. Contra accounts are usually linked to specific accounts on the ...

What are examples of contra accounts? | Reference.com


Accumulated depreciation, purchase discounts and purchase returns are examples of contra accounts. Accumulated depreciation is a contra account in the ...

Contra Account Definition | Investopedia


Contra accounts are reported on the same financial statement as the associated account. For example, a contra account associated with accounts receivable is ...