How am I supposed to balance the balance sheet when the client has no revenue and lots of expenses, nothing for inventory, no cash, equipment, etc. THANKS!!!
The S100 balance sheet is a standard form for all corporations and they must always balance, even inactive corporation or corporations with a loss have balance sheet which balance. I believe there might be some information which is missing in the financial statements. For more information on this I would invite you to either contact our support line at 1-866-438-8020, or for a better tax advice answer contact CRA tax tip line at 1-800-267-6999.