What is Balance Sheet?
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Answer / rakesh
Balance sheet means it is a combination of assets and
liabilities and it shows the what are the assets and
liabilities during the particular period of time with we can
think how the company is performing.
| Is This Answer Correct ? | 63 Yes | 7 No |
Answer / b.k.b
Balanc sheet is a financial statement which shows assets
and liability of the organisation.It is prepared to know
the exact financial position of the organisatio.
| Is This Answer Correct ? | 45 Yes | 1 No |
Answer / manoj
It is a statement of assets and liabilities which reflects the exact financial position of a firm
| Is This Answer Correct ? | 38 Yes | 2 No |
Balance sheet is a financial statement containing assets
and liabilities of a company as on a particular date say
31st March. The position will differ on 1st April.
The difference between P&L A/c and Balance sheet is
P&L A/c is the working results of income and expenditure
for the one year period i.e., 1st April to 31st March,
whereas balance sheet financial position only on a
particular date.
I welcome questions in finance, accounts, financial
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| Is This Answer Correct ? | 13 Yes | 0 No |
Answer / clarence vinod
Balanc sheet is a financial statement which shows assets
and liability of the organisation.It is prepared to know
the exact financial position of the organisation.
| Is This Answer Correct ? | 12 Yes | 2 No |
Answer / chandu
balance sheet it means balance betwen asset liabilities of
end of the year
| Is This Answer Correct ? | 20 Yes | 15 No |
Answer / sweta
Balance sheet is a mirror which reflects the true financial
poition of a business organisation.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / bhuvaneswari
A Balance Sheet is a statement prepared to ascertain the true position of assets and liabilities as on a particular date of the organisation. It is prepared at the end of the accounting period, after the preparation of profit and loss account.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / g.radhakrishna
balance sheet is record of assets & liabilites with which
a firm or companies financial position is known at a
particular time or at end of year.
| Is This Answer Correct ? | 3 Yes | 3 No |
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please answer this question.the following balances were extracted from the books of modern traders on 31st dec,2010.capital(85000)fixed assets(45000)stock1-1-2010(15000)sundry debtors(20600)productive exp(3300)reserves fund(6600)discount received(800)cash in hand(6200)drawing(5000)accomulated dep.(9000)purchases(82000)bad debts(400)unproductive exp.(27400)sundry creditors(9000)sales(120000)cash at bank(25500).adjustments.stock on 31-12-2010(15000).outstanding wages (5000) write-off (600)of further bad debts. create provision for bad & doubtful debts at {5%) on debtors.unproductive expenses includes anitem of prepaid insurance (100).provide depreciation on original cost of fixed assets @ (10%).
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