Pl & bs
coops90
Registered Posts: 5 Regular contributor ⭐
Hi there, I am trying to reconcile net loss from the p/l with b/s. Could anyone help with this? Many Thanks
PL:
SALES £274,871.78
COS: £232,629.24
GROSS PROFIT: £42,242.54
EXPENSES: £181,305.71
NET PROFIT/LOSS: -£139,063.17
BALANCE SHEET:
FIXED ASSETS: £8000
CURRENT ASSETS: £77054.15 (LOAN £245, STOCK £71,809.15, OTHER £5,000)
TOTAL CASH AT BANK: £104,344.64
DEBTORS: £108,730.08
NET CURRENT ASSETS: £290,128.87
TRADE CREDITORS: -£78,720.37
DEFERRED INCOME: -£107,743
CURRENT LIABILITIES: -£250,728.67 (LOAN -220K, NET PAY -£957.62, OTHER -£5,000, VAT CONTROL -£30,706.98, VAT SUSPENSE £5935.93)
Total Creditors: amounts falling due within one year-£437,192.04
Net current assets (liabilities) -£147,063.17
Total assets less current liabilities-£139,063.17
Total net assets (liabilities)-£139,063.17
Capital and Reserves
Retained Earnings
Profit for the year -139,063.17
Total Capital and Reserves-£139,063.17
PL:
SALES £274,871.78
COS: £232,629.24
GROSS PROFIT: £42,242.54
EXPENSES: £181,305.71
NET PROFIT/LOSS: -£139,063.17
BALANCE SHEET:
FIXED ASSETS: £8000
CURRENT ASSETS: £77054.15 (LOAN £245, STOCK £71,809.15, OTHER £5,000)
TOTAL CASH AT BANK: £104,344.64
DEBTORS: £108,730.08
NET CURRENT ASSETS: £290,128.87
TRADE CREDITORS: -£78,720.37
DEFERRED INCOME: -£107,743
CURRENT LIABILITIES: -£250,728.67 (LOAN -220K, NET PAY -£957.62, OTHER -£5,000, VAT CONTROL -£30,706.98, VAT SUSPENSE £5935.93)
Total Creditors: amounts falling due within one year-£437,192.04
Net current assets (liabilities) -£147,063.17
Total assets less current liabilities-£139,063.17
Total net assets (liabilities)-£139,063.17
Capital and Reserves
Retained Earnings
Profit for the year -139,063.17
Total Capital and Reserves-£139,063.17
0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 318 NEW! Qualifications 2022
- 156 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 92 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 274 Tax
- 136 Bookkeeping
- 7.2K General accounting discussion
- 201 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership