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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.
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