S
surfjuggler
Guest
Can anyone help me? I have two books on accounting and I cant seem to get a Balance sheet done. Its my first year, I have so few transactions it cant be that complicated – but I cant figure it out after two days of racking my brain.
Transactions in 2005:
I Issued invoices and bills for €23,195.14. All paid.
I Issued one invoice at year end for €5095.92 which wasn’t paid till 2006
I had €9,477.38 in the bank at year end.
I introduced no capital at start of year.
I have no fixed assets.
I owed €100 on business credit card at year end
I took out drawings of €5.750
I calculated retained profit from P&L at €17,945.06
Which is simply income (23195.14) – expenses(2491.71) – tax payable (2758.37).
Can you help me on doing a balance sheet?
As you can see it’s a small business and I would like to avoid spending a grand on an accountant.
Thanks for any help or advice
Transactions in 2005:
I Issued invoices and bills for €23,195.14. All paid.
I Issued one invoice at year end for €5095.92 which wasn’t paid till 2006
I had €9,477.38 in the bank at year end.
I introduced no capital at start of year.
I have no fixed assets.
I owed €100 on business credit card at year end
I took out drawings of €5.750
I calculated retained profit from P&L at €17,945.06
Which is simply income (23195.14) – expenses(2491.71) – tax payable (2758.37).
Can you help me on doing a balance sheet?
As you can see it’s a small business and I would like to avoid spending a grand on an accountant.
Thanks for any help or advice