OD RENEWAL URGENT ESTIMATED BALANCE SHEET
This query is : Resolved
Quick Summary
12 April 2022
I am starting out as an accountant at a sole proprietorship firm. My firms OD renewal date has reached and the owner asked me to prepare estimated and projected balance sheet for the current year and next year.Can anyone help me understand what are the things that i need to consider before preparing the estimated and projected balance sheet and P&L. What are the things that i need to consider before submitting the details and whether the bank can hold these information against the firm and deny the OD.Thanks in advance
12 April 2022
Compare 2020-21 and 2021-22 financial statements and project the same percentage increase and prepare projected financial statements.
12 April 2022
Sir i also have to prepare estimated balance sheet for 2021-22 as the financial year just ended.I have'nt been able to enter all details like all bank statements of our firm.So how do i present the estimated balance sheet with out complete data and all my purchase and sales has been added and the main bank account in this case the OD account has been completely entered.will this be enough to present to the bank.When i consider this estimate the profit are way high and i havent computed the assets values for current year depreciation and how do i proceed with this sir. Thanks in advance
12 April 2022
Based on actual sales figures and Bank balance and creditors and debtors balance prepare estimated balance sheet and p and l for 2021-22.
Project it with expected increase.
Project it with expected increase.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Journal entry of busniess expenses
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- RATE AND HSN CODE
- TDS AND ITR ISSUE
- GST Rate for Catering Services
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
