A/cs under sole propritership firm

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arunsrivastava (Querist)
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17 October 2013 Whats the a/cs are prepaired under sole propritership firm is as below or more
1 trading,profit&loss a/c ,
2 balancesheet
3 propriters capital a/c

and one more ques.
can propriter paid firm exp. from his persnl credit card ???

CMA. CS. CA (Final)Santosh Jha

CMA. CS. CA (Final)Santosh Jha (Expert)
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17 October 2013 profit & loss accounts & balance sheet

Ganeshbabu K

Ganeshbabu K (Expert)
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17 October 2013 p&l account and balancesheet is sufficient
.
.
recommended format was provided by icai in guidence note on tax audit,,
.
.
Yes if proprietor paid for business expences from credit card he can account in his books provided he should have original bills..

arunsrivastava

arunsrivastava (Querist)
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17 October 2013 but he also use his credit card for prsnl use
then how can we difrenciate in his credit card statement???

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