0
Contra Equity refers to an equity account with a normal debit balance, where as other standard equity accounts have normal credit balances. Expense accounts are contra equity accounts because they are used to find totals for a debit of the owner's equity account.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
How can you use contra in a sentence?
I used to play Contra on Nintendo
What is definition of bank management?
the bank management is actually the manging of debit-equity ratio which provides profit and loss assessment to banks
Is contra in contraband a prefix?
Yes, contra is the prefix. This prefix means against.
What is the definition of equity finance?
Equity finance is a way for a company to receive money in return for shares of its stock. It is a term generally used by small businesses as a vehicle to acquiring financing from investors who often require partial ownership or high returns for their investment in your business.
When talking about pros and cons what are they abbreviations for?
'Pro' is not an abbreviation of anything. 'Con' is an abbreviation of 'contra'. 'Pro' and 'contra' are Latin for 'for' and 'against'.
How drawings account is contra equity account?
Drawing account is used to reduce the capital by the owners of the business from business that's why it is called the contra account for equity account.
Dividends is what type of account?
Dividends are classified as stockholders' equity. They reduce stockholders' equity so they can also be called a contra equity account.
Treasury stock is classified as?
Treasury stock is a contra-equity account. It reduces shareholder's equity to its true value.
Is accumulated depreciation an owner's equity account?
No. It is a contra asset account
Where can you find subscription receivable in the balance sheet?
Whether Subscription Receivable account should be presented as an current asset or a contra equity account is debatable. The US SEC requires it as a contra equity account.
Is a withdrawal an equity accounting?
Withdrawal or drawing account is contra account to owner equity account which is used for owner withdrawals from business.
Is drawings account is a contra account?
Drawings account is a contra account because it reduces the owner's equity account's normal balance, a credit balance.
What is the relationship between brand loyalty and brand equity?
Definition of brand loyalty definition of brand equity measurement of brand equity and brand loyalty relationship between brand equity and brand loyalty
Can the definition of contra be not?
Contra normally means against (from Latin.) Un- is better for using to mean not (uneducated-not educated)
Is an owners drawing part of the balance sheet?
Yes owners drawing account is contra account to owners equity and closed to owners equity account at the end of fiscal year.
Where can a person find an explanation detailing the definition of return on equity?
The definition of return on equity is the amount of net income returned as a percentage of shareholders equity. More information can be found at Investopedia and Wikipedia.
What is the definition of injustice'?
Unfairness, or a lack of equity.
