Hello,
I want to know that, why are liability show in cr. side in balance sheet.
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why are liability show in debit side in b/s.
Replies (2)
A liability is any obligation that you have to a business, and so an increase in your liability increases your obligation.
Therefore you record it on the credit side as on the credit side you record what you pay.
Balance sheet has personal and real accounts. Thats why
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