Have a question about balancing the balance sheet.
I am preparing all records for my 2nd year Corporate Tax Filing (Year 2016) and trying to balance the balance sheet. In my balance sheet, I have accurately added all entries including (Prepaid Expenses, Prepaid Tax, Cash in Hand, GST recievable, Fixed assets minus accumulated amortization). On the Liability Side, I have all the accounts payable and my retained earnings from my income statement. I am still struggling to balance the balance sheet inspite of the fact that all entries are correct.
I am wondering if anywhere i have to add the cash balance from the previous year as well or only worry about 2016 cash balances.
Thanks in advance.