Question

Using imaginary figure give specimen of company’s balance

sheet according to Companies Act.​

Answer 1

Answer:

a balance shet is a financial statement the company assets, liabilities and shareholder equality

Explanation:

the balance sheet sheet is on of the three core financial statements that are used to evaluate a business. It provides a snapshot of a company finances (what is own and owes) as of the date of publication

Answer 2

Explanation:

Balance sheet is a statement of financial position of a company at a specified moment of time. It shows the company’s assets on one side and company’s liabilities on the other side. It tells about the solvency, profitability and liquidity position of the firm. Section 129 of the Companies Act, 2013 requires the preparation of the balance sheet. The format of Balance Sheet as per Companies Act 2013 is as follows:

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