I was just struggling and i THINK i have figured it out. I think a balance sheet is only to see what you are spending money on right? So you are buying something but you need a way to get that money and the balance sheet just shows where you got the money from. Take for example you buy a car. The car costs 10,000 which means you need something to pay to pay for the car whether that be from debt or from your own money . So on your balance sheet you would write expense 10k and write where you financed that 10k from. LMK if ur still confused cus i was confused about this for a solid 2 days!
extraordinary explanation!!!!!!
Thanks!
Good one waiting for another video
Thanks!
Wait why does the balance sheet have to balance again?
I was just struggling and i THINK i have figured it out. I think a balance sheet is only to see what you are spending money on right? So you are buying something but you need a way to get that money and the balance sheet just shows where you got the money from. Take for example you buy a car. The car costs 10,000 which means you need something to pay to pay for the car whether that be from debt or from your own money . So on your balance sheet you would write expense 10k and write where you financed that 10k from. LMK if ur still confused cus i was confused about this for a solid 2 days!