Menu
Info
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 ?
Replies (1)
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.
Recent Topics :
- Police Bandobost and GST Invoice
- Understanding where manual effort goes in audit wo
- Scanned purchase bills to Tally XML with GST check
- TDS applicability of foreign remittance to Oracle
- GSTR 9 LATE FEE
- Best Online Mock Test Series for CA Inter January
- COST OF IMPROVEMENT
- Pillows and Mattresses
- GST Applicability for Reg. / Un-Reg. Indian custom
- Amended GST Act & Rules
Related Topics :
CAclubindia
