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bal sheet is a statement which shows assets and liabilities of the co./firm or any organisation with profit or losses
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∙ 15y ago
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Definition of balance sheet?
A statement shows the true picture of Assets and Liabilities.
What is a financial statement that includes assets and liabilities?
A Balance Sheet, also sometimes referred to as a Statement of Financial Position.
Are accounts payable on the income statement and balance sheet?
yes accounts are payable on the income statement and balance sheet.
Are exploration expenses located on a balance sheet or income statement?
balance sheet
Where does an escrow payable appear on a balance sheet or a income statement?
balance sheet
Where does interest go on balance sheet?
Interest is part of income statement and shown in income statement and not part of balance sheet.
Are the income a balance sheet account?
Income is an income statement account and shown in income statement and not a balance sheet account.
Is interest on fixed deposit located on income statement or balance sheet?
both.. balance sheet under liquid asset..income statement under inflow/income..
How income statement affect balancesheet?
Income statement and balance sheet are both related to each other as transactions effect income statement and balance sheet as well and net income or loss from income statement is also part of balance sheet.
Is a balance sheet the same as a financial statement?
Balance sheet is a type of financial statement. Other types of financial statements could be income statement and statement of cash flow.
Is discount received balance sheet item or not?
It's only treated in income statement, not balance sheet.
Miscellaneous expenses in the balance sheet?
Miscellaneous expenses are part of income statement and not part of balance sheet and not shown under balance sheet.
