Contra Asset Account Definition, Examples, List of Accounts 14 februari 2025 – Posted in: Bookkeeping
This account helps to give a more accurate picture of the company’s financial position. This type of reporting allows anyone analyzing the balance sheet to understand much more about the company and its assets than if they were to simply look at the net value of the depreciated asset. By reflecting both accounts on the balance sheet, analysts can understand both the original price and the total decrease in value of a certain asset over…
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