Acct 2301 chapter 1 homework
Question:
What is the reason of using account form?
Answer:
On the left side of the balance sheet, under “Account Form,” the assets are listed, while on the right, under “Liabilities” and “Stockholders’ Equity,” respectively. Financial statements are often presented in a two-column account layout. Here, we have three columns: assets, liabilities, and equity.
