Ledger Question: Download Ledger PDF
Tell me which items belong in balance sheet statement and do not appear in income statement?
Answer:
Captial A/c , Drawings a/c , Fixed assets purchasing and so on. According to the double entry system each transaction have two side debit and credit. there are some transaction satisfied with balance sheet items. For ex, advance given to manager for travelling. Mangaer is to be treated like debtors. other side cash is going outside will cash balance both items appear in assets side of the balance sheet.
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