Hi, l am a bit of a novice and l am stuck on two balance sheet values.
1. I want to fill in my Trade Creditors row on my spreadsheet. Is this all of the money that l owe during the year for manufacturing stock, or are there other considerations? If so, do l then reduce it as and when l pay some of it as shown in the cash flow page?
2. Stock on hand - is this row expressed as the cost value of the available stock less the VAT? Then do l reduce the amount as l sell some of the stock?
Basically, in both cases l am not really sure where l draw the values from and what they should be. Any help most appreciated.
Thanks
Tim
1. I want to fill in my Trade Creditors row on my spreadsheet. Is this all of the money that l owe during the year for manufacturing stock, or are there other considerations? If so, do l then reduce it as and when l pay some of it as shown in the cash flow page?
2. Stock on hand - is this row expressed as the cost value of the available stock less the VAT? Then do l reduce the amount as l sell some of the stock?
Basically, in both cases l am not really sure where l draw the values from and what they should be. Any help most appreciated.
Thanks
Tim