The account format of the balance sheet lists assets on the left side and liabilities and stockholders' equity on the right side of the statement.

Question

Quizplus · Accepted Answer

The account format of the balance sheet traditionally presents assets on the left side and liabilities and stockholders' equity on the right side, reflecting the accounting equation: Assets = Liabilities + Stockholders' Equity.

The Account Format of the Balance Sheet Lists Assets on the Left