Aurora Acquisition Corp (AURC)

[R-money]

ok guys here is some financial accounting 101, this isnt a bad thing as you will see, they have to offset each other in able for the companies accountants to balance their books, the way each account is effected debit or credit as a normal balance determines the type, therefore the balance sheet must balance, because the numbers in the books are never taken out, they are just trasnferred... any further questions you can ask me, or read about financial accountancy, I got the images below off of wikipedia.


The accounting equation (Assets = Liabilities + Owners' Equity) and financial statements are the main topics of financial accounting.

A financial accountant must equal assets with liabilities and owner’s equity. The balance sheet (or the statement of financial position) is the financial statement that summarizes the assets, liabilities, and owners’ equity of the company.

0 = (−) Assets + Owners' Equity (+) Liabilities
. _____________________________/\____________________________ .
. / + Retained Earnings (+) Common Stock \ .
. _________________/\_______________________________ . .
. / (−) Expenses (+) Beginning Retained Earnings \ . .
. (−) Dividends (+) Revenue . .
\________________________/ \___________________________________________________/
(−)increased by debits (+)increased by credits