Re:JP Morgan's Coffee Machine
by occamrazor on Thursday September 09, 2021 @04:51PM
(#28474506)
JPM’s bank account at JPM is:
* an asset for the account holder, i.e JPM, and
* a liability for the bamk, i.e. JPM,
so one can cancel them out.
As a matter of fact banks have accounts for themselves, to facilitate administration and accounting for departments/branches/etc, but these accounts have, from an accounting point ov view, essentially no effect.
* an asset for the account holder, i.e JPM, and
* a liability for the bamk, i.e. JPM,
so one can cancel them out.
As a matter of fact banks have accounts for themselves, to facilitate administration and accounting for departments/branches/etc, but these accounts have, from an accounting point ov view, essentially no effect.