Re:The size of the shadow banking system estimated according...
by arethuza on Wednesday October 02, 2013 @09:59AM
(#6482387)
Yes, but the cash you deposited becomes a balancing asset.... surely (I am not an accountant).
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Re:The size of the shadow banking system estimated according...
by VLM on Wednesday October 02, 2013 @10:24AM
(#6482539)
I am not in banking finance but I think the double entry accounting would be if you deposit a $20 bill that physical $20 bill shows up on the "physical stack o cash" as an asset and the other entry (double entry, get it?) shows up as a liability in accounts payable because they owe you $20.
I was in IT at a stock trading firm a long time ago and the limited free training they provided for accounting was probably the most interesting non-job related on the job training I ever attended.