why assets are entered on right side and liabilities on left side in a balance sheet?

Answer 1

The "debits on the left, credits on the right" rule apply to only T-accounts, not the balance sheet. The balance sheet can be presented anyway the company wants.

Management may choose a vertical or a horizontal format, the level of detailed sub-classifications and, except for the minimum requirements, what information is to be disclosed on the face of the balance sheet or in the notes.

Line items should be presented broadly in terms of liquidity [IAS1R.51]. This may be either in increasing or decreasing order of liquidity.

If you wish to know more about balance sheet presentation, click on the link below.

Answer 2

I really don't know the answer to that but why not? This is only a possibility that I came up with. I don't have anything to support this theory but on a number line everything positive is on the right side of zero and everything negative is on the left side of zero. Assets are positive amounts so they're on the right and liabilities are negative amounts so they're on the left. Like I said, that's just a possibility.