Definition of Adjunct account:
An adjunct account is an account in financial reporting that increases the book value of a liability account. An adjunct account is a valuation account from which credit balances are added to another account. The concept of adjunct account can be contrasted with the concept of a contra account, which decreases the amount of a liability account through a debit entry.
An adjunct account consists of entries that increase the book value of a liability account. This is in contrast to a contra account, as a discount on bonds payable account would result in a debit to a liability account.
The place where an increased face value of an asset is recorded. An asset that is recorded in this account is considered bonds payable because this amount increases if the face value of the investment increases.
Meaning of Adjunct account & Adjunct account Definition