Question

Where the gold and silver shown in the balance sheet of banking company?

Answer 1

The balance sheet separates a company’s assets into two broad categories: current and non-current assets. The non-current asset category covers assets that a company doesn’t intend to sell within one year of its acquisition. Common non-current assets include the buildings and equipment the company owns, as well as any other long-term investment. If your company purchases gold with the intention of holding it for more than one year to realize appreciation in value, you should report it as non-current asset.

Answer 2

Answer:

A balance sheet is a financial statement that shows the assets, liabilities, and shareholder equity of a corporation. One of the three fundamental financial statements used to analyze a corporation is the balance sheet. It gives a snapshot of a company's financial position (what it owns and owes) as of the publishing date.

Explanation:

A company's assets are divided into two groups on the balance sheet: current and non-current assets. Non-current assets are assets that a corporation does not expect to sell within a year of purchasing them. Buildings and equipment owned by the corporation, as well as any other long-term investment, are examples of non-current assets. If your organization buys gold with the purpose of retaining it for more than a year to profit from a price increase, it should be classified as a non-current asset.