How to make a fake bank statement online

How to make a fake bank statement online how to#
How to make a fake bank statement online trial#

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How to make a fake bank statement online trial#

This means we have to go вЂbackwardsвЂ™ in the accounting process, so to speak.ДЄfter that, we prepare our tax ledgers as per usual and add the balances to the trial balance. Tax is interesting because it is a journal entry that we do AFTER our profit and loss have been prepared. By now, you should be able to see that this will reduce our accounts payable to zero, and the liability will be eliminated from our accounts. At the time we finally pay it, we will credit our bank account by $675 and debit our accounts payable by $675. This liability will be carried forward on our balance sheet until we pay our tax the following year. ItвЂ™s a liability because it is still owing itвЂ™s a bit like a bill thatвЂ™s waiting to be paid. The other side of the equation is accounts payable, which is a liability. Tax Expense is an expense, so this causes our debit side to increase. LetвЂ™s go ahead and do one last journal entry to record our tax expense: Remember, this is just an example вЂ“ every country has its tax rate! Assuming 30% tax rate, you need to pay a tax of $675 Now that weвЂ™ve worked out our profit, we can work out how much tax we need to pay.

How to make a fake bank statement online how to#

Now, before you get too excited, you need to remember that you donвЂ™t get to keep all that profit for yourself! ThereвЂ™s a very important man known as the taxman who takes his cut each year: How to Calculate Tax You made a profit! As we can see in our Profit and Loss Statement, your bakery made a profit of $2250 Using the figures from our trial balance, simply fill in the figures in the Profit and Loss Statement below to work out your profit! PROFIT AND LOSS STATEMENT FOR (NAME)вЂ™S BAKERY FOR THE PERIOD ENDED (TODAYS DATE)Д¬ongratulations. The basic format of a Profit and Loss Statement is simply: Revenue - Expenses = Profit This is all the information that we need to produce for our Profit and Loss Statement. To check our Profit and Loss, weвЂ™re going to have the figures from two of these sections вЂ“ Revenue and Expenses. Take another look: TRIAL BALANCE FOR (NAME)вЂ™S BAKERY AS AT (TODAYвЂ™S DATE) On our Trial Balance, we have six sections вЂ“ Assets, Liabilities, Expenses, Revenue, Drawings and OwnerвЂ™s Equity. It also summarises our revenue and expenses for the year, which is important for analyzing how money has come in and out of our business. This is also important to various other parties вЂ“ the bank would like to know we made a profit so they can be sure we can continue to repay their loan, and the government would like to know the size of our profit To calculate our tax. Usually, it is one year.ДЄ Profit and Loss Statement is important because it illustrates whether or not we have made a profit вЂ“ one of the most important objectives of being in business. A Profit and Loss Statement illustrates how much profit you made in any given period.