A Ltd company set up with 100 shares @£1 each (paid up)
The company buys a van £800 (owner puts the van into the company)
Business trades for a yr, 8K turnover, profit of zero after wages and expenses
Van depreciation £200 during the yr, net book value £600
One fixed asset (van £600), no current assets
No loans or other liabilities, expenses all paid for up front as they ocour
What would the balance sheet look like?
I cannot see how to balance it, how does the balance sheet look i.e. shares and capital?