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what is the finalisation of balancesheet and how it can be
made
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Answer Posted / mahesh
Finalisation of Balance sheet:- Finalisation of Balance
sheet prepare the Summary of Accounts.
There is some steps.
1.First we need take ladger closing balance and prepare the
Trail balnce.
2.we need to prepare the trading and profit&loss A/c
basised on Trail balance and Adjestments.
3.we need to make a working notes also its best for
understanding.
4.final we will prepare a Balance sheet.
It is prepared as per standard Format:
M/s .................
Balance Sheet
(For the Year ending as on.....200...)
____________________________________________________________
Liabilities |Amt. | Assets | Amt.
_____________________|_____|_________________________|______
Capital | | Fixed Assets |
Loans and advances | | Current Assets |
Reserves & Provision | | Preliminary exp. |
Cureent Liabilities | | |
_____________________|_____|_________________________|______
_______________Total_|_____|___________________
| Is This Answer Correct ? | 73 Yes | 11 No |
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