353542517 by Unknown

Author:Unknown
Language: eng
Format: epub

Transaction Analysis and Balance Sheet Creation

Every financial transaction needs to reflect in the company’s financial statements. But the Balance Sheet contains only a few summarized heads which are shown. Hence, putting a transaction under the correct head(s) is important to be able to prepare a Balance Sheet. Below is a template showing some of the common heads under Assets, Liabilities and Stockholders’ equity that needs to be used for doing transaction analysis. Additional heads can also be added at appropriate places as needed. It should be noted that for every transaction the accounting equation, Assets = Liabilities + Stockholders’ Equity, should hold true. If it does not, then the transaction has been incorrectly recorded.

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