0
how to prepare the forecast report of profit and loss account with balancesheet
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What is the projected balance sheet method?
projected balance sheet method
How the make profit and loss account and balance sheet in tally?
hai
What are the reason where the balance sheet will not tally?
Balance sheet is the summary of Assets ,Liabalities , and profit or loss from Profit and loss account. following are the common reasons 1.As Purely based on nduble entry system For each ledger debits there should a equlent ledger credit on all transactions. 2. We can divide ledgers into Balance sheet items and Profil and loss account items. Balance sheet ledgers are ledger balances which directly reflects in Balance sheet Profit and Loss ledgers are ledgers which is reflecting only in Profit and loss account not in balance sheet. 3. Check the opening balance sheet, difference in opening balance sheet may the reason.
What is projected balance sheet?
Projected balance sheet is the estimated balance sheet to foresee the future of business based on certain assumption before the actual transactions.
Are profit and loss account on an income statement or balance sheet?
Profit & Loss Account is the Statement showing indirect expenses and receivable of a Company where as Balance Sheet is the Statement highlighting Assets and Liabilities of the said Company.
What is the balance sheet equation?
balance sheet is a record of debit and credit entry of account in order to obtain the net profit of the business.
What is a pro forma balance sheet?
Proforma balance sheet is a projected balance sheet to predict the future of business.
What are the financial statements of business organization?
The profit and loss account, the cash flow account and the balance sheet
What are the final statements of the business?
final statements are trading account,profit and loss account,balance sheet.
What is the journal entry for profit transfer from profit and loss account to balance sheet?
Debit profit and loss accountCredit owners capital
Where does overdraft go to balance sheet or profit and loss account?
Bank overdraft is shown in balance sheet either as a negative amount of bank in asset side or at liability side of balance sheet.
Which item appears in both the balance sheet and the profit and loss account?
Closing Stock
