Understanding de-SPAC: The basics De-SPAC – a term that’s increasingly buzzing in the business world – refers to the process where a private company goes public by merging with a Special Purpose Acquisition Company (SPAC). But what does this actually mean, and how does it work? De-SPAC...
Impact:assets ($0) = liabilities ($0) + equity (+$20,000) What about income statement accounts: Where do debits and credits apply? Income statement accounts primarily include revenues and expenses. Revenue accounts, such as service revenue and sales, are increased with credits. For example, wh...