Re: Odds of Party collapsing on Saturday?
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I'm pretty sure (but not 100% sure) that when I deposit $400 billion into my Bank of America checking account, it does not show up on Bank of America's balance sheet. It's not an asset owned by the bank. Would my account at Party necessarily be treated differently (accounting-wise) from my account at Bank of America?
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Well, it doesn't show up on their income statement and it isn't stock sold or additional paid in capital from partners, so it must be on their balance sheet. The bank owes it to you. So from the bank's perspective it would be a debit to cash and a payable credit to Maurile.
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