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sakshi (become ca)     04 May 2014


In balance sheet ,why assets are recorded in credit side and liabilities are recorded in debit side ,although both have opposite balance of Dr and cr ?

 1 Replies

Roopali Kadam

Roopali Kadam (CA cleared- In Job)     04 May 2014

Balance sheet is not a ledger Account..

In Ledger A/c we have on left side Debited items & on  Right side Credited items.

In Balance Sheet (Horizontal format) on left side we have Liabilities which generally have Credit balance & on right side we have Assets having Debit balance.

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