Sewing is the craft of fastening or attaching objects using stitches made with a needle and thread. Sewing is one of the oldest of the textile arts, arising in the Paleolithic era.
What is a 'Due From Account'. A due from account is an asset account in the general ledger that indicates the amount of deposits currently held at another company. The due from account is typically used in conjunction with a due to account to reconcile which accounts the money is due from and due to.
What is a contra asset account? A contra asset account is an asset account where the balance will be either a credit balance or a zero balance. (A debit balance in a contra asset account will violate the cost principle.) Since a credit balance in an asset account is contrary to the normal or expected debit balance the account is referred to as a contra asset account. The most common contra asset account is Accumulated Depreciation. Accumulated Depreciation is associated with property, plant and equipment and it is credited when Depreciation Expense is recorded. Recording the credits in the Accumulated Depreciation means that the cost of the property, plant and equipment will continue to be reported. Reporting the accumulated depreciation separately allows the readers of the balance sheet to see how much of the cost has been depreciated and how much has ...