Friends due to hectic schedule in bank, We are unable to post daily and more content, sorry for that. But we promise we will provide you Study material of course in lucid language at one plat form. Ok friends lets go with today's topic.
This topic
is very important from exam point of view as well as banker’s day to day work.
From this topic 3 to 5 question
generally asked in JAIIB exam. One question is fixed from this following
equation :-
Assets = Capital + Liabilities
Or Liabilities=Assets
– Capital
Or Capital =
Assets – Liabilities
Or Assets =
Equities (total claim)
-
Liabilities
consist of claims of owners( =Net worth= Paid up capital + balance of reserves
and surplus) and claims of outsiders.
-
As
per concept of accountancy, the business and its owner are considered as to
separate and distinct entities & All transactions of the business are
recorded in the books of the business from the point of the business, not its
owners.
Ø To understand Balance sheet we must have clear concept about Assets & liabilities .
Following chart will help you in this.
|
Assets =
|
Capital +Liabilites
|
|
Cash
Bank
Bill Receivable
Debtor
Stock in trade
Furniture
Machinery
Building
|
Capital + reserve & surplus
Creditor
Bill payable
Outstanding expenses
Bank overdraft
|
Nothing more
than this you have to know for exam. For more clearance read transaction
example from Mcmillan book.( Page-225)
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