Question

On which account the book value of assets and liabilities are written ?​

Answer 1

Answer:

In accounting, book value is the value of an asset according to its balance sheet account balance. For assets, the value is based on the original cost of the asset less any depreciation, amortization or impairment costs made against the asset

Answer 2

Balance Sheet Accounts

Explanation:

• Balance sheet accounts also are referred to as permanent or real accounts because at the end of the accounting year the balances in these accounts aren't closed.

• The balance sheet displays the company's total assets, and how these assets are financed, through either debt or equity. It can also be remarked as an announcement of net worth, or a statement of economic position.

• The balance sheet relies on the fundamental equation: Assets = Liabilities + Equity.

• Balance sheet accounts are used to sort and store transactions involving a company's assets, liabilities, and owner's or stockholders' equity.