Balance B/F and Balance C/F
Balance C/F: Balance carried forward means the ending balance of the account which has to carry to the next accounting period.
The balance in each account is added and deduct through debit and credit during the accounting period. As at the end of the accounting period, the balance accounts need to bring balance to the next period. This total balance is called the carried forward balance.
|Feb||Purchase Fixed Asset||2,000||8,000|
|Dec||Pay for rent||1,000||11,000|
|Balance Carry Forward||11,000|
Balance B/F: Balance Brought Forward means the beginning balance of balance sheet accounts that have been brought from a prior period. Usually, the balance sheet account needs to carry from one period to another. For example, the ending cash balance on 31 Dec 202X will become the opening balance on 01 Jan 202X+1. The opening balance on 01 Jan 202X+1 is the balance brought forward
|Balance Brough Forward||11,000|