What Is A Balance Sheet In Accounting?

What Is A Balance Sheet In Accounting?

1 Answer

  1. A balance sheet is a financial statement that displays company financial position by showing its total assets and how these assets are financed by debt and equity. Balance sheet is a basic financial statement using which you can determine the financial health of an organization.
    Balance sheet equation is Assets = Liabilities + Equity
    A balance sheet is divided into two types. On the left side company assets are recorded and on the right side we records its liabilities and Shareholder’s equity.

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