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what is the order in praparing the balance sheet, placing
of assets
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Answer / h.r. sreepada bhagi
A correction to my above answer - Over all arrangement of
assets is on importance or reverse liquidity - Fixed Assets,
Investments-Current Assets. Current Assets are arranged in
the order of liquidity & as such Cash on Hand appears first
followed by other assets.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / h.r. sreepada bhagi
Assets are arranged in the reverse or descending order of
liquidity. I.e the least liquid assets are listed first &
the most liquid assets follow down.
Exception are Deferred Revenue Expenditure, Pre-Operative
Expenditure, Preliminary Expenditure, etc. under
Miscellaneous Expenditure, to be charged off over a
reasonable period of time (More than one accounting period)
and Debit Balance in the Profit & Loss A/c (i.e. Carried
Forward Loss), since these are not real assets.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / mazahar
you can prepare a balance in vertical and horizontal way,
Asset = liability plus share holders equity
first arrange company assets in proper way
Current asset,
Cash
Bank
stock/inventory
supplies
short term investment
other current asset
Fixed Assets
Plant and Machinery
Land & Building
Furniture & Fixture
Vehicle
Long term Investment
other Fixed Asset
Patent,website, etc
| Is This Answer Correct ? | 0 Yes | 1 No |
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