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.
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.
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.
Two candles of equal lengths and of different thickness are
there. The thicker one will last of six hours. The thinner
2 hours less than the thicker one. Ramesh light the two
candles at the same time. When he went to bed he saw the
thicker one is twice the length of the thinner one. For how
long did Ramesh lit two candles ?please describe full
description
In direct and indirect expenses we know direct means
expenses incured durning prodution process, indirect means
expenses incureed after prodution process, apart from
manufacturing concern , what do mean by direct & indirect
expenses.