United Nations (UN) United Nations (UN), international organization established on October 24, 1945. The United Nations (UN) was the second multipurpose international organization established in the 20th century that was worldwide in scope and membership. Its predecessor, the League of Nations, was created by the Treaty of Versailles in 1919 and disbanded in 1946.
The natural balance in a contra asset account is a credit balance, as opposed to the natural debit balance in all other asset accounts. There is no reason for there to ever be a debit balance in a contra asset account; thus, a debit balance probably indicates an incorrect accounting entry.he purpose of a contra asset account is to store a reserve that reduces the balance in the paired account. By stating this information separately in a contra asset account, a user of financial information can see the extent to which a paired asset should be reduced.
What type of account is the accumulated depreciation account? It is categorized as a contra account. Essentially, it reduces the amount shown on the balance sheet for Property, Plant & Equipment (PP&E), to account for the depreciation â¦that has accumulated over the years that the company has owned the assets.