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what is the balance sheet? And also tell me about the
finanacial statement?
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Answer Posted / punita
Balance sheet is the statement which shows financial
position of the company which tell us whether comapany have
sufficient assets to bear its long term as well as long
term liabilities.
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A COMPANY IS SERVICE PROVIDE TO B CO. 100,000 AND CHARGED STAX 10000 TOTAL BILL RAISED 110000 AND RECIEVED 30% FROM B IN DECEMBER AND 40% RECIEVED IN 10JAN2011, BALANCE 40% RECD IN 10 FEB2011 WHAT WILL BE GENERATED ACCORDING ACCOUNTING PRENCIPLE OF BOTH SIDE (MEAN A &B) WITH REVANUE& PROVISION PLEASE TELL ME
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