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So, for:AC14 - Cost of Sales: I would put £301? (paid salary)AC20 - Admin Expenses: £354AC22 - Other operating income: £13 (from Flat Rate scheme)For a total of £8 gross profit? Followed by:AC58 - Creditors (1 year): £55 (VAT bill)AC64 - Creditors (Over 1 year): £3,553 (accrued salary + an unpaid expense)For a total of -£3,608 in total assets (liabilities) with £0 in paid up shares for a total shareholder fund of -£3,608?
Matthew, thank you for your reply.AC14 = £3,846AC58 = (55 VAT bill +3,545 accrued salary +8 unpaid expense)
AC64 = nil
AC40 will read -£3,537AC74 will be balance on (AC75+AC40)I hope this is helpful and answers your question.