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Which items belong in balancesheet statement and do not appear in income statement?

Asked by: Interview Candidate | Asked on: Nov 7th, 2007
Showing Answers 1 - 1 of 1 Answers

Answered On : Nov 28th, 2007

View all answers by yournura

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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