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Post Info TOPIC: Retain Profit
Navangi


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Retain Profit
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Hi

Do we put retain profit on Trail balance.

I m trying to make TB from last year accounts and bit confused about retain profit and share capital allocation

Can anyone explain how do i treat them.


Thanks
Navangi

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littlebookkeeper


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Hi Navangi,

I am assuming that you are wanting to post the opening balances for this years accounts?

If so, you would not post any of income and expenses from the last years profit and loss account, just the balance sheet items. The capital and reserves section of the balance sheet should be split between share capital and retained profit.

Hope this is what you mean?

Carole

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Navangi


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Thanks Carole for your reply. Still i have a difference around £25000.00 i don't know why.


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littlebookkeeper


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Sound like a nice round sum, shouldn't be too difficult to find. It isn't issued share capital? Go over your figures again I'm sure you will find it. smile

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Navangi


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Thanks

Let me play around if note i will try to send what i have got from previous year account.

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