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Liabilities don't come in the left hand side. We traditionally put liabilities "credits" on the right and "debits" on the left. This dates back to Pacioli's "Summa de Arithmetica, Geometria, Proportioni et Proportionalita" where he outlines double entry (debit and credit) accounting.
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The Balance sheet in India the liability is on the left hand side asset is on the right hand side?
Liabilities' side of balance sheet deals with how the funds are raised whereas the assets' side of balance sheet deals with how the funds are invested. Firstly the funds are raised (by incurring liabilities) after which they are invested (asset formation). Left-to-right is a general way of reading/writing, hence the liabilities side would appear before assets.
The right-hand side of the balance sheet should include entries for?
only the liabilities
When was The Left-Hand Side of the Fridge created?
The Left-Hand Side of the Fridge was created in 2000.
What was the name of the disciple on jesus left side?
There is no disciple sitting on Jesus left hand side or on the right hand side.
Is the right hand side port?
Port is the left hand side
Which side does Liabilites appear on a balance sheet?
Normally in balance sheet liabilities shown in left side of balance sheet but sides don’t matter much as sides can be change or in statement form of accounts there are actually no sided and balance sheet is prepared in statement form where assets comes first and then liabilities and equity.
Which nautical term refers to the left-hand side of the boat?
Facing forward, port is the left hand side
What side of the road do they drive on in Australia?
In Australia, people drive on the left side of the road.laft hand side, same as UK.
Is the accelerator on the left hand side of a left hand drive?
It is the right pedal.
Which side is your left hand on when looking at your mirror image?
In a mirror your left hand is still on the left.
What is shown on the left hand side of a equation?
The equivalent of its right hand side
What is accounting equation?
Assets - Liabilities = Capital Also expressible as Assets = Capital + Liabilities. The accounting equation can be extended to include the Income and Expense accounts: Assets + Expenses = Capital + Liabilities + Income. With the accounting equation specified in the second and extended versions above, those on the left of the equals [normally] have left hand side of a T-account balance, ie a Debit balance; and those on the right [normally] have a right hand side of a T-account balance, ie a Credit balance. eg office furniture is an asset and has a debit balance; a bank loan is a liability and has a credit balance.
