Question

What is the information on the Balance sheet?

Answer 1

Balance sheet is summary of financial positition of a company as t certain date.

It has two side(s)

Asset : The resource which generates future income

Liabulities & Equity : Liabilities is financial obligation in short and long term. Equity is, what is left with owner of the firm after paying all oblegations

Asset	Equity & Liabilities
1) Fixed Asset - Plant & equipment, building vehicles etc	1) Equity - share capital, reserve and surplus and current year profit
2) Current Asset - which can be converted into cash very easily like inventory, account receivables, cash in hand	2) Long term loan to be paid ( after one years)
	3) Current Liability - account payable, loan to be repaid within one years