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Opening Balance

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Advocate
272 Points Joined May 2017
What will be my opening balance? Capital of last year or Amount of Balance sheet?
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On 27 January 2021 at 21:25 Report
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Chartered Accountant
24588 Points Joined November 2019
Please elaborate
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On 27 January 2021 at 21:42
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Advocate
272 Points Joined May 2017
My last year Capital +net profit balance is 350000 but my balance sheet total balance is 650000 .Then what will be my opening balance this year ?
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On 27 January 2021 at 21:49
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Chartered Accountant
24588 Points Joined November 2019
Your closing capital balance in last year will be the opening balance in current year balance sheet
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On 27 January 2021 at 22:16
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Advocate
272 Points Joined May 2017
It meant capital +net profit or Closing stock?
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On 27 January 2021 at 22:20
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22 Points Joined November 2019
Your closing capital balance in last year will be the opening balance in current year balance sheet
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On 28 January 2021 at 19:05

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