In Balance Sheet Why we entered Liabilites & Incomes under
Liabilites side , Assets & Expenditures under Assets
side.In general think incomes are asssets,expenditures are
liabilites.
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Answer Posted / sankeerthana
Who told you expenditure will be placed under assets side.
Expenditures will be be deducted from revenue and income or
loss will be arrived. Profit will be added to capital and
losses will be deducted from capital account. you know
pretty well that capital account will be placed under
liabilitieds side. You simply note down that expenses or
incomes will not find place in balance sheet
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