☻Before doing the Balance Sheet, you must ensure that you have done your Trading , Profit and Loss account FIRST. This is to find out your Net profit or Net loss, and subtitude it into your Balance Sheet.
Example of Trading, Profit and Loss Account:
- Thus, from here, take the Net loss b/d OR Net profit b/d and put it into your Balance Sheet
♣Ensure that the Balance Sheet is Balanced in the end.
