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sakshi (become ca) (43 Points)

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 ?

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CA. Roopali Kadam (Jobs on assignment basis.) (1453 Points)
Replied 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.