How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Your Own Question, Chartered Certified Accountant
Category: UK Tax
Satisfied Customers: 4939
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
Type Your UK Tax Question Here... is online now
A new question is answered every 9 seconds

Thank you so much for your help earlier I have now gone as

This answer was rated:

Thank you so much for your help earlier I have now gone as far as retained profits and am encountering problems with AC187 - 'the retained profit must tally with the value in the balance sheet. First year trading was loss of £366 and year two was trading profit of £139. Are you able to help please, many thanks
Hello and welcome to the site. Thank you for your question.

I will revert to you shortly

Many thanks
Customer: replied 3 years ago.
thanks for letting me know that you have picked up the query I look forward to receiving the answer. thansk again, Tanya
Tanya, thank you for your reply.

Please advise what you have in the following boxes


Many thanks
Customer: replied 3 years ago.
Hi, I have detailed below:
AC40 = £139
AC41 = -£366

AC74 = £139
AC75 = -£366

Tanya, thank you for the information...

Your entries should be

AC40 = £139
AC41 = -£366

AC74 = -£227
AC75 = -£366

AC215 = £0
AC216 = -£366
AC217 = £0
AC218 = -£366

AC184 = -£366
AC185 = £139
AC186 = £0
AC187 = -£227

AC187 = AC74
AC218 = AC184 = AC75

You may have to adjust Boxes AC50, AC52, AC54 and AC58 as appropriate by £366 to make the document balance

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond. and other UK Tax Specialists are ready to help you
Tanya, thank you for accepting my answer.
Your reward of bonus is greatly appreciated.

Best wishes.

Related UK Tax Questions