Format of Balance Sheet Video Lecture - Accountancy Class 12 - Commerce

this is the format of a balance sheet we
have assets on one side assets on the
right-hand side by convention books of
so-and-so
balance sheet as on a particular date
may be it would be 31st March London
building promises machinery furniture
less provision for depreciation goodwill
patents capital work-in-progress
investments bank deficits debtors less
provision for doubtful debts we could
also have less provision for discount on
debtors as we had discussed earlier
prepaid expenses accrued income cash and
bank cash in hand these are a list of
some of the assets which could come on
the asset side of the balance sheet on
the liability side what we have is
capital ad net profit less drawings
capital ad net profit or it would be
deduct net loss if any to the capital if
the profit is made it belongs to the
proprietor added to capital less
drawings reserves and surplus are not
nothing but accumulated profits our loan
from bank bank overdraft creditors notes
payable or Bills payable outstanding
expenses so bills payable would come
here like notes payable bills receivable
sundry debtors and bills receivable
would come Monday assets side we have
outstanding expense if any income is
received in advance that would come on
the liability side so just a format that
there are a list of assets list of
liabilities assets minus liabilities
this belongs to the owner proprietor
reserves surplus capital and reserves
surplus capital plus profit of course
les droits assets less liabilities equal
to capital