Fra Help Needed

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Gavin.Jones
Gavin.Jones Registered Posts: 2 New contributor 🐸
in AAT Level 3 (Level 6 in Scotland)
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

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  • CathG
    CathG Registered Posts: 145 Dedicated contributor 🦉
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    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
    Gavin.Jones Registered Posts: 2 New contributor 🐸
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    Thanks Im busy doing past papers now! SO I will apply that & Try to rmember it

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