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Simple English definitions for legal terms

contra account

Read a random definition: ne baila pas

A quick definition of contra account:

A contra account is a special type of account that reduces the value of another account. It's like a helper account that works in the opposite direction. For example, if you have an account for your car worth $10,000, you might also have a contra account for depreciation that reduces the value of your car account over time. This helps you keep track of the true value of your assets.

A more thorough explanation:

A contra account is an account that reduces the gross valuation of an asset. For example, a company may have an asset account for inventory, but also have a contra account for inventory allowances to reduce the value of the inventory to its net realizable value. This allows for a more accurate representation of the company's financial position.

For instance, if a company has $100,000 worth of inventory, but expects to sell only $90,000 of it due to damage or obsolescence, the contra account for inventory allowances would be $10,000. This reduces the value of the inventory to its net realizable value of $90,000.

Another example of a contra account is accumulated depreciation, which reduces the value of a company's fixed assets to their net book value. This is important for accurately reporting the value of a company's assets on its balance sheet.

contort | contra bonos mores

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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