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+--- Thread: Does balance sheet has a debit side? (/showthread.php?tid=3539)
Does balance sheet has a debit side? - Ahmad Khan - 07-13-2006
Hi everyone, I am new at this forum.
The question I want to ask is does balance sheet has a debit and credit side. I know that balance sheet is not a ledger. What I have come across, ppl often call the asset side of balance sheet as debit side and liability side as credit side, even when liabilities are normally on the right side.
- maani - 07-13-2006
you know the basic fact that balance sheet is not a ledger then why this confusion...In some countries the convention is to write assets on right hand side of balance sheet and liabilities on left, and in some countries the convention is to write assets on left and liabilities on right...