contra asset account. An asset account which is expected to have a credit balance (which is contrary to the normal debit balance of an asset account). The contra asset account is related to another asset account. For example, the contra asset account Allowance for Doubtful Accounts is related to Accounts Receivable.The contra asset account Accumulated Depreciation is related to a constructed asset(s), and the contra asset account Accumulated Depletion is related to natural resources.The net of the asset and its related contra asset account is referred to as the asset's book value or carrying value.he contra asset account is related to another asset account. For example, the contra asset account Allowance for Doubtful Accounts is related to Accounts Receivable.
plat which receives utility services unless the property is legally platted with a legal lot from a previous underlying. subdivision or is concurrently replatted. To replat the property, a new subdivision application must be filed (see. application packet #9) in addition to the vacation application.
When new land parcels are created (eg subdivision) or when all or part of an existing parcel is to be used for a specific purpose (eg easement or lease) a plan must be prepared, lodged and registered with LPI. In defining new parcel boundaries, the plan creates the legal identity of the land.