28 August 2011
hi...i have just now started my articleship and i am handed over the last year balance sheet , current year trial balance, ledger,cash book to prepare receipts and payment a/c, income and expenditure a/c and balance sheet of the concern......I am unable to do it as i am completely confused with my own concepts.....Can anyone tell me how to prepare those accounts ?
Kindly verify the opening and the closing balance of every transaction. and take the base of last year balance sheet to prepare the current year balance sheet and so on.