Question

Make the format of balance sheet​

Answer 1

Question;

Make the format of balance sheet

Answer:

Format of the balance sheet

In account format, the balance sheet is divided into left and right sides like a T account. The assets are listed on the left hand side whereas both liabilities and owners' equity are listed on the right hand side of the balance sheet.The two most common formats of reporting the balance sheet are the vertical balance sheet (where all line items are presented down the left side of the page) and the horizontal balance sheet (where asset line items are listed down the first column and liabilities and equity line items are listed in a later columnThe Basics. Three aspects comprise a balance sheet: assets, liabilities, and shareholders' or owners' equity. In simple terms, the liabilities plus the shareholders' equity should equal the assets. If the accounting is done correctly, both sides of the balance sheet will be equal.

Formula Used for a Balance Sheet

, if a company takes out a five-year, $4,000 loan from a bank, its assets (specifically, the cash account) will increase by $4,000. Its liabilities (specifically, the long-term debt account) will also increase by $4,000, balancing the two sides of the equation.