Question

Bank Balance as per Bank Statement is shown in the Balance Sheet at the end of the year State whether the statement True or False with a reason.​

Answer 1

the answer is true.Bank balance as per Bank Statement is shown in the Balance Sheet at the end of the year.

Answer 2

The statement is true

Explanation:

The balance sheet comprise of total assets, total liabilities and the stockholder equity

To balance the each side of the balance sheet. We use the accounting equation i.e shown below:

Total assets = Total liabilities + stockholder equity

Moreover, we can shown the bank balance that is displayed in the bank statement in the asset side

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Prepare the format of balance sheet and explain the various elements of balance sheet.

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