Beside the fact it's in the name, it follows the accounting formula of assets - liabilities = capital. As all 3 of them make up the major sections of a balance sheet and the formula must balance so too should the balance sheet.
The heading of a balance sheet should have a blue header title.
They should appear on the Income Statement (NOT the Balance Sheet) as Advertising and Promotion Expenses.
Rent is not a balance sheet account, it is an expense, hence an income statement account.
no
Loan is on balance sheet
In off-balance sheet financing assets are not shown in balance sheet while in balance sheet financing fixed assets shown in balance sheet.
Fixed Assets are things of value that are expected to maintain their value to the entity for more than a year. All Assets are Balance Sheet accounts so yes, they should initially be recorded on the Balance sheet.
It should be.
A balance sheet account is any item that is found on the financial statement known as the balance sheet. The figures reflected on the balance sheet, consist of the ending balance of the balance sheet account. After all the transactions are posted in the individual balance sheet account's "T" account (involving debits and credits), the ending balance is the amount found on the balance sheet.
grouping and marshalling in balance sheet grouping and marshalling in balance sheet
Yes in merchandiser balance sheet there is stock of items available in balance sheet while in services balance sheet there is no inventory item available.
Cash balance from cash flow statement should always tally with balance sheet cash balance otherwise it means that cash flow statement is not prepared accurately and proper investigation should be launched to check the discrepancies .