please sir tell and hellp me why we dont use "a/c" in the balance sheet? please discuss on this and get me a solution. thank u sir.
From India , Pahasu
Dear Gaurav,
It was Balance sheet not an account. its nothing but a sheet not like a profit & Loss account. It will cumulative balance of your financial transactions. so BS contains only Liability & Assets.
If any clarification required please post your doubts.
regard
Jagan

From India, Visakhapatnam
Dear Friend,
Balance Sheet is an statement not an account. It is a summary of the Co that's why its not treated as an account. Balance Sheet will provide the financial information or position of the company.
Thanks & Regards.

From India , Hyderabad
Balance Sheet is a statement, Of What, that is to be understood.
As you know there are three types of accounts, (1) Nominal (2) Personal (3) Real Accounts.
Periodically we transfer the all Nominal Account balances to an account called Profit and Loss Account to arrive at the net balance (of Profit/ Loss) which is then transferred to the Capital account, which is a personal Account (type)
Balance sheet is the statement showing the balances of all Personal & Real Accounts, as on a particular Date
It shows the position of such accounts AS ON A GIVEN DATE, in a given format. Assets & Liabilities

From India, Trivandrum

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