Write some item of Contra assets.

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What is Contra Asset?
Posted by:
ABID HUSSAIN
16-July-2017

Question added by Md. Omar Faruq , Manager-Accounts & Finance , The Rani Re-Rolling Mills Limited.
Date Posted: 2015/07/27

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by Mehboob Ali Laghari , Social Mobilization Team Incharge , TRDP-European Union

Contra Assets are different from normal Asset accounts: Example: Accumulated Depreciations are different from normal accounts. Normal (Assets) have debit balance while the depreciation has contra/opposite balance.

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