Ask Experts Questions for FREE Help !
Ask
    satya101072's Avatar
    satya101072 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 14, 2008, 10:14 PM
    Balance sheet , Profit & Loss A/c from Trial blance
    How do we prepare Balance sheet , Profit & Loss A/c from given Trial Balance sheet?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Oct 22, 2008, 01:03 PM

    From your adjusted trial balance you can prepare the income statement. The income statement contains revenues and expense accounts or other temporary accounts.

    Next you can prepare the balance sheet which are your assets, liabilities, and equity accounts which are your permanent accounts.

    To prepare these statements I suggest using a worksheet. This will help you in preparing the financial statements.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Ledger, trial balance, balance sheet [ 5 Answers ]

hello, I have problem with my assignment. Can anyone help me with one question? I have to prepare journals, ledger, trial balance, profit and loss and balance sheet. Jan 6 Bought spare parts on credit 27000 cash sale 62500 Jan 7 charged Moji for repairs 5000 sold spare parts to Koba on...

Creating balance sheet from trial balance [ 10 Answers ]

I am having issues getting a balance sheet to come out right from the given data from a trial balance. Can anyone help me out with this? I have included a picture of what I am working on...

Making a balance sheet from a trial balance. [ 1 Answers ]

I have come up with the attached balance sheet so far from the trial balance, but as it can obviously be seen it does not balance. I'm not sure where to go from here or where I made a mistake. Any help would be greatly appreciated, thanks in advance.

Trial Balance and Balance Sheet of an airline company [ 1 Answers ]

I would like to get the idea about the trial balance andbalance sheet of an airline company. Can any one help me with that? Thanks, Shanthi

Profit & loss acc and Balance sheet, help ! [ 0 Answers ]

In my trial balance: General reserve : 32960 (CR) a)where is it in the P&L acc and BS? b) discuss the accounting concepts that govern the preparation of financial statements. Anybody know about this one, please help me. Thank alots Please answer as soon as possible.

View more questions Search