Balance Sheet & Profit & Loss A/c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2011 Dear Experts,

I need the procedure for how to make balance sheet & profit & loss A/c

can any one help me pls

Suresha R

Suresha R (Expert)
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25 May 2011 Proper procedure is as follows

1.Pass Journal Entries
2.Prepare Ledger Accounts
3.Trial Balance

4.Profit & Trading Account
find out gross profit from trading account & same to be transferred to profit and loss account then you need to find net profit & same to be transferred to b/s.

5.Balance Sheet
take all closing balance figures from trial balance/ledger account & tally balance sheet.