List the type of items which appear under the liability side of a balance sheet….

List the type of items which appear under the liability side of a balance sheet.


Items which appear under the liability side of Balance Sheet are:

* Capital
* Long Term Liabilities
* Loan from bank
* Mortgage
* Current Liabilities
* Sundry Creditors
* Advance from Customers
* Outstanding Expenses
* Income Received in Advance
What types of items appear under the assets side?
Items which appear under the assets side of Balance Sheet are:…
What are adjustment entries? Why are they passed?
Adjustment entries are the entries which are passed at the end of each accounting period to adjust the nominal..
What are the entries to be passed for Preparing final accounts?
Preparing final accounts - a.) Closing Stock , b.) Depreciation ,c.) Outstanding Expenses , d.) Prepaid Expenses, e.) Accrued Income etc.
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