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In banking and accounting, the balance is the amount of money owed (or due) on an account. In bookkeeping, "balance" is the difference between the sum of debit entries and the sum of credit entries entered into an account during a financial period. [1] When total debits exceed the total credits, the account indicates a debit balance.
The basic and most prevalent unit of Spanish currency before the Euro was the Peseta. The first Peseta coins were minted in 1869, and the last were minted in 2011. Peseta banknotes were first printed in 1874 and were phased out with the introduction of the Euro. [1]
In most of the Spanish States, the dinero was superseded by the maravedí and then the real as the unit of account. However, in Principality of Catalonia and the Balearic Islands, the currency system based on the dinero continued, with twelve dineros to the sou and six sous the peseta. Note that in modern Spanish, "dinero" means "money".
The maravedí had served as the Spanish money of account since the 11th century, but on June 2, 1497 the Ordinance of Medina del Campo (site of the great international fairs) made the real the unit of account, with the maravedí defined as a fraction of it (the 34th part).
This Spanish colonial real was subsequently referred to as moneda nacional ("national money") and underwent two more changes: 1728: 68 reales (or 8 + 1 ⁄ 2 dollars) minted to a mark, 11 ⁄ 12 or 0.9167 fine (3.101 g fine silver) 1772: 8 + 1 ⁄ 2 dollars minted to a mark, 130 ⁄ 144 or 0.9028 fine (3.054 g fine silver)
A bank counts a nostro account with a debit balance as a cash asset in its balance sheet. Conversely, a vostro account with a credit balance (i.e. a deposit) is a liability, and a vostro with a debit balance (a loan) is an asset. Thus in many banks a credit entry on an account ("CR") is regarded as negative movement, and a debit ("DR") is ...
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Buying assets by borrowing money (taking a loan from a bank or simply buying on credit) 3 − 900 − 900 Selling assets for cash to pay off liabilities: both assets and liabilities are reduced 4 + 1,000 + 400 + 600 Buying assets by paying cash by shareholder's money (600) and by borrowing money (400) 5 + 700 + 700 Earning revenues 6 − 200 ...