General
This query is : Resolved
16 October 2013
why liabilities shown on left side and assets on right side
16 October 2013
i can only give reply as below...hope it will satisfy you some extent
For Assets the Closing balance will be the Debit Balance and it has to be the opening balance of the next year and so the asset item in the Balance has to be shown in the Right side.
Where as the Liablities Closing balance will be the Credit Balance and its opening balance will be in the debit side and so the Balance has to be shown on the Left side.
For Assets the Closing balance will be the Debit Balance and it has to be the opening balance of the next year and so the asset item in the Balance has to be shown in the Right side.
Where as the Liablities Closing balance will be the Credit Balance and its opening balance will be in the debit side and so the Balance has to be shown on the Left side.
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