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While preparing FS of a company incorporated on May 2017, the profit for the year 2017-18 will be carry forward and added with the profit of 2018-19 as opening. Likewise while preparing FS for the year 2019-20, will it carry forward the profit of the year 2018-19 only OR the whole profit including 2017-18s to 2019-20? For eg:- Profit for the year 2017-18:- 30,000 Profit for the year 2018-19:- Opening Balance : 30,000 Current Profit : 50,000 Total : 80,000 Profit for the year 2019-20:- Opening Balance : 80,000 or 50,000 ??????? Current Profit : 65,000


Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

2K+

04-Feb-21 18:57

23

Answers (2)

All profits.


Suraj Lakhotia

Suraj Lakhotia

Admin

04-Feb-21 19:05

Okeii


Balamurali Unnithan M S

Balamurali Unnithan M S

CA Inter

2K+

04-Feb-21 19:19

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