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
- 23046 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 |
What is difference between cash flow and funds flow?
Expand---------PCDB
What is operating profit ? how is it different from Gross profit ?
What is the treatment you give for the prepaid insurance created in the year end in the month of April
Give simple definition on Dual Entity Concept
how there face in lvbank interview
a account has debit balence.what is the meaning?
15 Answers Genpact, HSBC, State Bank Of India SBI,
why inward bill register (IBR)not called as Bills Payable?
What is provision for depreciation? What is it entry in P&L & Balance sheet? How it is different from Depreciation expense?
Answered but misspelled pl correct BOOK kEEPING IS AN ACTIVITY CONCERNED WITH (Ans.RRECOGDIN)
What are different types of reports made in tally
Describe the types of routing?
Audit 
