Dear Sir/Madam,
In the balance sheet of this year, is it ok to add business loss from previous year in the opening balance of this year ?
Thank You.
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Brought forward business loss from previous year
Replies (2)
The opening balance of CAPITAL A/c this year (FY 2014-15) as on 01/04/2014 will be after subtracting of last year's loss, drawings.etc. (Assuming that it is a proprietory business)
If you add / subtract the loss now the BS will not tally.
Thank you Madam for your quick and accurate reply.
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