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Why does a balance sheet balance please answer from the view of a layman?
Wiki User
∙ 11y ago
In your trial balance every debit has equal credit which in simple terms means every transaction we do affects two a/cs for eg.when we purchase something cash reduces and goods increase likewise in all transaction something or the other increases reducing other balance sheet is like your two pockets which tally at the end of the day.things bought equals to cash reduce.A layman should always consider it as his position at the end of the day.
Wiki User
∙ 11y ago
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What mean by Schedule Balance sheet?
A detailed balance sheet, which shows ledgers under groups, so here Schedule balance sheet helps all of us to view and print the balance sheet in detailed format.in other word schedule balance sheet is a balance sheet contain combined Asset class and liabilitiy class together under one group, and which shows ledgers under groups.
What is the purpose of preparing balance sheet?
main objective is to know true and fair view of state of afire of company
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Why do you prepare a balance sheet?
Balance Sheet exhibits the financial soundness of the comopany as a whole . It gives alomost complete picture to any party interested any type of relation with the company. It gives a birds eys view of assets and liabilities that company possess and Profit / Loss that company has incurred or is projected. For taking any financial decision ( Loan diisbursement , IPO investement etc.) there are some basic ratios to be calculated , balance sheet can be the base of such ratios.
Why losses are recorded on assets side in balance sheet as per company view?
Loss account has debit balance that is why all loses and assets are recorded in assets side same as all profits and liaibities are recorded at liabilities side
What is the porpuse of balance sheet?
To give a shap shot view of the company's financial positions at their year end. It should detail the assets they hold, the liabilities they are due to pay and how the company is funded.
What has more functionality for creating a table than data sheet view?
Design View
Would service revenue be considered an asset?
Revenue is not considered an assets. Even from a double entry point of view, revenue would be a credit where as assets are debits so there no even interchangeable. If revenue was kept on the balance sheet as deferred income it would be as a liability.
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What view can be added to an access table?
working sheet
What is data sheet view in Microsoft access?
Data sheet view shows data laid out like a table or a worksheet in a spreadsheet. The headings of fields will be at the top of each column.Data sheet view shows data laid out like a table or a worksheet in a spreadsheet. The headings of fields will be at the top of each column.Data sheet view shows data laid out like a table or a worksheet in a spreadsheet. The headings of fields will be at the top of each column.Data sheet view shows data laid out like a table or a worksheet in a spreadsheet. The headings of fields will be at the top of each column.Data sheet view shows data laid out like a table or a worksheet in a spreadsheet. The headings of fields will be at the top of each column.Data sheet view shows data laid out like a table or a worksheet in a spreadsheet. The headings of fields will be at the top of each column.Data sheet view shows data laid out like a table or a worksheet in a spreadsheet. The headings of fields will be at the top of each column.Data sheet view shows data laid out like a table or a worksheet in a spreadsheet. The headings of fields will be at the top of each column.Data sheet view shows data laid out like a table or a worksheet in a spreadsheet. The headings of fields will be at the top of each column.Data sheet view shows data laid out like a table or a worksheet in a spreadsheet. The headings of fields will be at the top of each column.Data sheet view shows data laid out like a table or a worksheet in a spreadsheet. The headings of fields will be at the top of each column.
Which government site hosts the EBT balance information?
The best website to get information pertaining to your EBT balance can be found at www.ebtedge.com. There you can view your balance, as well as view previous transactions and get helpful hints.
