Question

Choose the correct answer. A balance sheet has assets listed on the left, and liabilities and (blank) on the right.

Answer 1

Answer:

A balance sheet has assets listed on the left, and liabilities and OWNERS EQUITY on the right.

Step-by-step explanation:

A balanced sheet shows a company's assets, liabilities and owners equity at a specific point in time. it shows what a company owns and owes and the amount invested by shareholders.

Assets are the valuable property or money they have that is assets provide income in futures. examples  cash, investments, supplies, land, buildings, equipment, etc.

Liabilities are the debt taken by a person like loans, rents to be paid , mortgages, etc.

Owners equity is the book value of the company that is owner's equity is equal to the  asset amounts minus the liability amounts.

Owner's Equity = Assets - Liabilities.

Rearranging, We get

Assets = Liabilities + Owner's Equity

Account receivables, cash and equipment all are a parts of assets.

Thus,  A balance sheet has assets listed on the left, and liabilities and OWNERS EQUITY on the right.