Acct105 week 4 homework completion
Question:
Is it good to have a counter account?
Answer:
Adjunct Account is linked to another account in a close way. The balance of this account is added to the balance of the linked account in the financial statements. An adjunct account is a type of account that adds to the book value of a liability account in financial reporting. A credit balance from an extra account is added to the balance of another account. It is also called Transportation-In, and its balance is usually negative. It is listed under “Cost of Goods Sold” on the income statement.
