Interested to Buy Any Domain ? << Click Here >> for more details...
Why do balance sheet always have same total of Assets and
liabilities..??? pls ans dis...my id is
business.ankita@gmail.com
- 13 Answers
- 23473 Views
- State Bank Of India SBI, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ashish kumar tiwari
Due to Accounting Principle and second thing is We are
working with double entry system as per accounting
stadared,Dr & Cr is equal.
| Is This Answer Correct ? | 29 Yes | 4 No |
Answer / bk
According to accounting princple every dr has a
corresponding cr.balance.Balance sheet is a statement to
know the financial position of the business.as we are
following double entry system of accounting.
| Is This Answer Correct ? | 12 Yes | 2 No |
Answer / swamydlj@rediffmail.com
Hi Dear,
all the above answers may be the reasons why B/s showing
the same ammounts.
but as per my knowledge in another corner b/s contains the
profit/loss entry which is not actual Asset or liability.
but if the company gains the profit we will show it in
liability side as company needs to pay that profit to share
holders. the actual loss or profit carryforward from T/b
and showing it into b/s that is why it is always tallied.
| Is This Answer Correct ? | 8 Yes | 2 No |
Answer / ameet
Dear Ankita, according to the double entry system of
accounting, every debit should have a equal credit,
otherwise it would not be called as 'Balance Sheet'. Hence,
all the incomes generated by the company/business have
expenses to run. Every year every business concern should
give it for audit, to confirm whether every recorded
transaction is true to the best of knowledge, and therein
the role of an auditor arises, where he has to check and
confirm that everything mentioned in the balance sheet has a
true and fair view.
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / mayur patel
Due to Accounting Principle and second thing is We are
working with double entry system as per accounting
stadared,Dr & Cr is equal..
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / lokesh babu
Hi ankita,
Here we should learn the basic concept of accounting.
In INDIA we are following double entry system because of that every debit have equal credit.
EX: company is artificial person, we are investing Rs.1,00,000 i.e in the assets side cash Rs100000 at the same side liability side Creditors/capital 100000.
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / ram
what ashish kumar is written is right suneetha ur wrong
actually that is not a concept that u have mention ok
| Is This Answer Correct ? | 4 Yes | 4 No |
Answer / dinesh
according to the double entry system of
accounting, every debit should have a corresponding credit.
so B/S shows it in that way...
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / aashish tahelani
because of our accounting principles if they do not match
it means there is error in that balance sheet.
| Is This Answer Correct ? | 0 Yes | 0 No |
can anyone give the journal entry with the amount 10 tv bought in the business for 1000 each, out of which one is installed.
34 Answers Capital IQ, Genpact,
what are the 6 M's of management?
26 Answers Management, Ram Infotech, State Bank Of India SBI,
what is the diferenece between cost accounting & financial accounting, with example?
Invoice for Rs 492650/- is inclusive of 14.5% VAT. Pl calculate Basic Rate for the material.
Expand---------PRTS
fill in the Blanks a part or full HRA will be exempted if _________made for his residence
what is difference between b.r.c and f.i.r.c
Tell me if the company wants to enhance thier business and incured the cost on other building (like Buliding Material, Iron and Others) so we will put it in to the expenses or i have to put it into the Fixed asset land and buildin by passing this entry Land and Building (Dr) Bank/Cash/Detors) (Cr) Thanks
Short Answer on____________Analysing
what is merchant banking ?
AS 2 deals with
golden rules of accounts
Audit 
