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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.

Answers were Sorted based on User's Feedback



In Balance Sheet Why we entered Liabilites & Incomes under Liabilites side , Assets & Exp..

Answer / 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
www.therealaccountants.com

Is This Answer Correct ?    33 Yes 1 No

In Balance Sheet Why we entered Liabilites & Incomes under Liabilites side , Assets & Exp..

Answer / vadlakondav

Thank you sankeerthana actually i confused regarding this
question one of my friend told me this. any way thanks for
ur reply

Is This Answer Correct ?    6 Yes 0 No

In Balance Sheet Why we entered Liabilites & Incomes under Liabilites side , Assets & Exp..

Answer / sankeerthana

Thanks for the response.Pl also visit my site immediately.
You will be definitely immpressed with the site

sankeerthana

www.therealaccountants.com

Is This Answer Correct ?    3 Yes 0 No

In Balance Sheet Why we entered Liabilites & Incomes under Liabilites side , Assets & Exp..

Answer / mannavarr

dear sankeerthna ur job is good. what is the use of visit
ur website realaccountant.com, i can't understand what is
there in site

Is This Answer Correct ?    1 Yes 0 No

In Balance Sheet Why we entered Liabilites & Incomes under Liabilites side , Assets & Exp..

Answer / krushna

Dear sankeerthana I had just now visited your recommended
site to Vadlakonda. As you said it is really worth
visiting.Regular visit with that site will help unemployees
seeking better jobs

Thanking you fo the suggestion.

Krishna
kopallekrishna@yahoo.in

Is This Answer Correct ?    0 Yes 0 No

In Balance Sheet Why we entered Liabilites & Incomes under Liabilites side , Assets & Exp..

Answer / n k gupta

All Liabilites to the business has to be on liabilities
side and indcome to the business is owners Asset i.e
Shareholders. thats the reason all income is also liability
to business.

Is This Answer Correct ?    2 Yes 2 No

In Balance Sheet Why we entered Liabilites & Incomes under Liabilites side , Assets & Exp..

Answer / dinesh

Please read separate legal entity concept.

Is This Answer Correct ?    0 Yes 1 No

In Balance Sheet Why we entered Liabilites & Incomes under Liabilites side , Assets & Exp..

Answer / anil ahuja

Liablities and incomes are always have Credit Balance and
Assets & Income are always have Debit Balance

Is This Answer Correct ?    2 Yes 3 No

In Balance Sheet Why we entered Liabilites & Incomes under Liabilites side , Assets & Exp..

Answer / vikas

thanks 4 the answer....

Is This Answer Correct ?    0 Yes 1 No

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