Prepration of a balance sheet? Preperation of day book? Calculation of interest loan? What are credit and debit? (👆👆Questions related to accountancy ) Other question Give a self introduction? What is your sight on modern world(your sight to this world) For personality Qualification

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Preparation of a balance sheet involves organizing and presenting a company's financial position.

A balance sheet is a financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.
To prepare a balance sheet, one needs to gather information about the company's assets (such as cash, inventory, and property), liabilities (such as loans and accounts payable), and shareholders' equity (such as retained earnings and capital).
The balance sheet equation is Assets = Liabilities + Shareholders' Equity.
Assets are recorded on the left side (debit) of the balance sheet, while liabilities and shareholders' equity are recorded on the right side (credit).
The balance sheet provides a snapshot of a company's financial health and helps stakeholders assess its solvency and liquidity.
Example: A balance sheet for XYZ Company as of December 31, 2021, would list its assets (cash: $10,000, inventory: $20,000), liabilities (loan: $5,000, accounts payable: $3,000), and shareholders' equity (retained earnings: $15,000, capital: $7,000).