Answer Posted / riyaz ahamed s
The Balance Sheet is consists of Assets and Liabilities, if
any asset purchase then it will have effect on balance sheet
like.
1) Cash decreases if we purchase asset with cash and the
meanwhile asset value is increases. then balance sheet tallied.
2) If we purchase asset by bank means bank balance decreases
and asset balance is increases. then B/S tallied.
3) If we purchase asset on credit means liability increases
and meanwhile asset values also increases but effect will be
same defiantly balance tallied.
The only reason is we will record all transaction in the
both the sides of the aspects of debit and credit.
Is This Answer Correct ? | 10 Yes | 3 No |
Post New Answer View All Answers
how we will prepare n file income tax returns for individuals?explain
Expand-------ANCS
What are the rates of Depreciation? Like machinery items, wooden items?
Expand ________FOR
What Question ask in MARKIT Company?
what is the meaning of input vat & out put vat?
Is commodities transaction tax a permissible business expenditure? Explain
what are the different causes for discrepencybetween the balance of cash book and pass book
What is Accounting on Computers
what is monetary polasy and how it is different from trade polacy? how it will impact on stockmarkets in India?
Two months rent of Rs 25000/- was adjusted in Rental advance account at the time vacating office
what is the uniform public construction cost accounting act?
Short Answer on _____________Revenue Budget
Breif notes about accounting standards
what are the importance accounting entries for AP and AR process in interview..