I have done some projected balance sheets, but I do not know how to allocate the previous years profit...
I attach the balance sheet and the P&L. The problem is for the year end projection 2013.
I'm not sure... that is why I'm confused. Perhaps the accountant declared the profit as a dividend for the 2011 figures? Would that make sense ? Therefore the profit would not be carried forward?
But generally speaking the profit should be carried forward in the balance sheet? This is the bit I am confused about.... I'm not sure if it should be added into the next years P&L in the BS or not.... (I am quite ignorant with all this bits)
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Many thanks. Your help is hugely appreciated. I am sure I will be in touch for more assistance in the future.
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