Fra Help Needed

Gavin.Jones

OK Im really worried about this paper as I still cant get into my head what goes where!! Once you extend the LEdger Balances over & make the adjustments what goes on the P&L & BS? Not items but groups like assets & liabiliteies etc.

THANKS

CathG

P&L and Balance Sheet

Profit & Loss has expenditure and revenue

Balance Sheet has Assets, Liabilities and Capital

Once you've found out the profit in the P&L that has to be included in the 'Financed by' area of the Balance Sheet

Good luck tomorrow

Gavin.Jones

Thanks Im busy doing past papers now! SO I will apply that & Try to rmember it