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Characteristics of Balance Sheet

1. It is a statement

2. It has two sides

3. The total of one side must be equal the total of the other side.

Layout of a Balance Sheet

There are two methods of preparing balance sheet.

(i) T. Format or Horizontal method

(ii) Vertical Format

T. Format of a Balance Sheet

Screen Shot 2020 12 28 at 7.27.03 PM

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