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Mountain Posted 18 years ago
Vocabulary
Offset?
0 What does "offset" in the sentence below mean? Thanks 02 br
00 An account on the balance sheet of a corporation or entity that offsets the balance of a related and corresponding account. 0-
00 An account on the balance sheet of a corporation or entity that offsets the balance of a related and corresponding account. 0-
Top answer
02 br 00 In accounting lingo, an 01 b 00 offset 02 b 00 is an amount of money equaling or counterbalancing another amount on the opposite side of the same ledger or the ledger of another account. 01 i 00 Accumulated depreciation 02 i 00 , which is a contra account to 01 i 00 fixed assets 02 i 00 to obtain book value, is an example of an offset account. 0-
- 02 br 00 In accounting lingo, an 01 b 00 offset 02 b 00 is an amount of money equaling or counterbalancing another amount on the opposite side of the same ledger or the ledger of another account.
- 01 i 00 Accumulated depreciation 02 i 00 , which is a contra account to 01 i 00 fixed assets 02 i 00 to obtain book value, is an example of an offset account.
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2 Answers
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0 . 02 br
00 In accounting lingo, an 01 b 00 offset 02 b 00 is an amount of money equaling or counterbalancing another amount on the opposite side of the same ledger or the ledger of another account. 01 i 00 Accumulated depreciation 02 i 00 , which is a contra account to 01 i 00 fixed assets 02 i 00 to obtain book value, is an example of
00 In accounting lingo, an 01 b 00 offset 02 b 00 is an amount of money equaling or counterbalancing another amount on the opposite side of the same ledger or the ledger of another account. 01 i 00 Accumulated depreciation 02 i 00 , which is a contra account to 01 i 00 fixed assets 02 i 00 to obtain book value, is an example of
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1 i 00 offsets 02 i 00 : counteracts; compensates for. 02 br
00 For example, you could have one account to record cash in, and another to record cash out. The two accounts would 01 u 00 offset 02 u 00 one another. At the end of the reporting period you can find the difference between the two accounts with a simple subtraction, and report the differenc
00 For example, you could have one account to record cash in, and another to record cash out. The two accounts would 01 u 00 offset 02 u 00 one another. At the end of the reporting period you can find the difference between the two accounts with a simple subtraction, and report the differenc
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