NO ! We can not say that. But Balance Sheet has always
divided in two parts One is LHS has LAIBILITES and RHS has
ASSESTS. All credit entry which has not included in P & L
A/c comes in balance sheet laibilities side. same all
debit entry which has not included in P & L a/c comes in
assests side.
balance sheet has one law debit and credit. n it shows the
credit and debit balances. n if u transact the transactions
in correct way then its tallied.
Balance sheet is a statement showing all the assests and
liabilities of a business concern.Balance sheet is a
statement and it is not an account,So in an account where
you can find both the aspects i.e.,debit and credit.but in
balance sheet you can't find debit and credit except
assests and liabilities.
No, becoz balance sheet is a statement which describes the
financial Position of a firm / company. It contains LHS
Liabilities and RHS ASSETS. debit and credit is there only
tail balance & profit and loss a/c.