Follow Our FB Page << CircleMedia.in >> for Daily Laughter. We Post Funny, Viral, Comedy Videos, Memes, Vines...


Why do balance sheet always have same total of Assets and
liabilities..??? pls ans dis...my id is
business.ankita@gmail.com

Answers were Sorted based on User's Feedback



Why do balance sheet always have same total of Assets and liabilities..??? pls ans dis...my id is ..

Answer / ashish kumar tiwari

Due to Accounting Principle and second thing is We are
working with double entry system as per accounting
stadared,Dr & Cr is equal.

Is This Answer Correct ?    29 Yes 4 No

Why do balance sheet always have same total of Assets and liabilities..??? pls ans dis...my id is ..

Answer / bk

According to accounting princple every dr has a
corresponding cr.balance.Balance sheet is a statement to
know the financial position of the business.as we are
following double entry system of accounting.

Is This Answer Correct ?    12 Yes 2 No

Why do balance sheet always have same total of Assets and liabilities..??? pls ans dis...my id is ..

Answer / swamydlj@rediffmail.com

Hi Dear,
all the above answers may be the reasons why B/s showing
the same ammounts.
but as per my knowledge in another corner b/s contains the
profit/loss entry which is not actual Asset or liability.
but if the company gains the profit we will show it in
liability side as company needs to pay that profit to share
holders. the actual loss or profit carryforward from T/b
and showing it into b/s that is why it is always tallied.

Is This Answer Correct ?    8 Yes 2 No

Why do balance sheet always have same total of Assets and liabilities..??? pls ans dis...my id is ..

Answer / ameet

Dear Ankita, according to the double entry system of
accounting, every debit should have a equal credit,
otherwise it would not be called as 'Balance Sheet'. Hence,
all the incomes generated by the company/business have
expenses to run. Every year every business concern should
give it for audit, to confirm whether every recorded
transaction is true to the best of knowledge, and therein
the role of an auditor arises, where he has to check and
confirm that everything mentioned in the balance sheet has a
true and fair view.

Is This Answer Correct ?    6 Yes 1 No

Why do balance sheet always have same total of Assets and liabilities..??? pls ans dis...my id is ..

Answer / mayur patel

Due to Accounting Principle and second thing is We are
working with double entry system as per accounting
stadared,Dr & Cr is equal..

Is This Answer Correct ?    5 Yes 1 No

Why do balance sheet always have same total of Assets and liabilities..??? pls ans dis...my id is ..

Answer / lokesh babu

Hi ankita,
Here we should learn the basic concept of accounting.
In INDIA we are following double entry system because of that every debit have equal credit.

EX: company is artificial person, we are investing Rs.1,00,000 i.e in the assets side cash Rs100000 at the same side liability side Creditors/capital 100000.

Is This Answer Correct ?    3 Yes 1 No

Why do balance sheet always have same total of Assets and liabilities..??? pls ans dis...my id is ..

Answer / ram

what ashish kumar is written is right suneetha ur wrong
actually that is not a concept that u have mention ok

Is This Answer Correct ?    4 Yes 4 No

Why do balance sheet always have same total of Assets and liabilities..??? pls ans dis...my id is ..

Answer / dinesh

according to the double entry system of
accounting, every debit should have a corresponding credit.
so B/S shows it in that way...

Is This Answer Correct ?    1 Yes 1 No

Why do balance sheet always have same total of Assets and liabilities..??? pls ans dis...my id is ..

Answer / aashish tahelani

because of our accounting principles if they do not match
it means there is error in that balance sheet.

Is This Answer Correct ?    0 Yes 0 No

Why do balance sheet always have same total of Assets and liabilities..??? pls ans dis...my id is ..

Answer / ankit bisaria

hi i am ankit answer 9

Is This Answer Correct ?    0 Yes 0 No

Post New Answer



More Accounting AllOther Interview Questions

Golden rules of accounting

369 Answers   Accenture, Accounting, Ajuba, Birla Tyres, Chartered Accountant, Flextronics, Genpact, Hewitt, HP, Intel, JPMorgan Chase, Northern Transport, Oracle, Scope International, TCS, TransWorld, UCO Bank, WNS,


what is loan syndication?

2 Answers  


a) what are the rate of employees & company's contribution for PF & ESIC? b) what is the ceiling in case of ESI deductions? c) what are the due dates for paying ESI/PF

6 Answers   Ess Dee,


What are the things are not Included in Annual Reports?

0 Answers  


Expand-------CSNA

0 Answers  






Journal Entries for Trade Discount, Cash Discount, Goodwill,

0 Answers   Thomson Reuters,


what is finance

6 Answers   Genpact,


what is suspence capital?

9 Answers   Capital IQ,


you purchase a machinary on a loan what is the joury entry for that and where will you show the the loan amount in balance sheet and show the ledger account?

2 Answers   OPI Global,


EXPAND______________RRC

2 Answers  


pls explain the clear difference between Depreciation and Demortization?

5 Answers   HSBC, Syntel,


what are the questions put-up on interview in the field of finance operations work ?

1 Answers  






Categories