Opening Balance
Waseem Syed (Advocate ) (272 Points)
27 January 2021
What will be my opening balance? Capital of last year or Amount of Balance sheet?
5 Replies
Waseem Syed
(Advocate )
(272 Points)
Replied 27 January 2021
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 ?
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 27 January 2021
Your closing capital balance in last year will be the opening balance in current year balance sheet
Waseem Syed
(Advocate )
(272 Points)
Replied 27 January 2021
It meant capital +net profit or Closing stock?
Adil Shaikh
(22 Points)
Replied 28 January 2021
Your closing capital balance in last year will be the opening balance in current year balance sheet
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