asked 145k views
5 votes
On the worksheet the adjusted balance of a contra asset account would be extended to:

asked
User FatBruno
by
7.9k points

1 Answer

1 vote

Answer: the Balance Sheet Credit column.

Step-by-step explanation:

A contra account is simply an asset account which has a credit balance, unlike the normal asset account that typically has a debit balance.

The two main types of contra account include the accumulated depreciation and the allowance for bad debt. We should note that on the worksheet the adjusted balance of a contra asset account would be extended to the credit column of the balance sheet.

answered
User Sewder
by
8.2k points

No related questions found

Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.