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    bethann31000's Avatar
    bethann31000 Posts: 6, Reputation: 1
    New Member
    		  
    #1

    Sep 24, 2008, 07:28 AM
    Adding an old soft asset to existing books
    I have a client I have had for some time, who recently announced to me that he has a huge ira account he'd like on his books. It requires a 700,000 + asset addition, and shame on me I cannot remember what to put the offsetting entry to. Thanks so much for your help.
    Bethann:o
    AdamUTsel's Avatar
    AdamUTsel Posts: 100, Reputation: 2
    Junior Member
    		  
    #2

    Sep 24, 2008, 09:19 AM

    Technically, this is more complex than a simple debit/credit. In theory, though, the offset is to an unearned account since he cannot withdraw (a few execeptions) against this account without penalty until he reaches the specified age.
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