Accounting is based on the formula of Assets = Liabilities + Owner's Equity.
the DR side of a balance sheet are the Assets while the CR side records Liabilities & Owner's Equity. Hence for the formula to be effective, both side of the balance sheet must be equal (balance).
PS: It's not the asset and liabilities side but rather the Debit and Credit side.
no.
on the debit side of the balance sheet, we have the assets of a company. There are current assets and fixed assets and they should be equal to the Liabilities + the equity of a company.
Yes, they should.
Accounting is based on the formula of Assets = Liabilities + Owner's Equity. the DR side of a balance sheet are the Assets while the CR side records Liabilities & Owner's Equity. Hence for the formula to be effective, both side of the balance sheet must be equal (balance).
In off-balance sheet financing assets are not shown in balance sheet while in balance sheet financing fixed assets shown in balance sheet.
no.
on the debit side of the balance sheet, we have the assets of a company. There are current assets and fixed assets and they should be equal to the Liabilities + the equity of a company.
Yes, they should.
Accounting is based on the formula of Assets = Liabilities + Owner's Equity. the DR side of a balance sheet are the Assets while the CR side records Liabilities & Owner's Equity. Hence for the formula to be effective, both side of the balance sheet must be equal (balance).
In off-balance sheet financing assets are not shown in balance sheet while in balance sheet financing fixed assets shown in balance sheet.
Intangible assets are amortized on balance sheet same as tangible assets are depreciated.
Yes. It is an asset and assets are on the balance sheet.
Defferred tax asset is shown in assets side of balance sheet under head of other assets.
Prepaid expenses are shown in current assets under assets portion of balance sheet.
Below Fixed Assets
they fall in the first column of a balance sheet
they fall in the first column of a balance sheet