Accounting in case of individual...Guidance needed..
This query is : Resolved
20 September 2010
Dear Experts,
Very Urgent Sir...
If an individual does business as a sole proprietor while preparing balance sheet apart from his business assets whether assets used for his personal purposes such as House Property, Investments made in LIC,NSC,Shares etc should also be included?
If Yes while showing these in the assets side under what head can i show in the liabilities side.
Thanks for your guidance.
With regards,
Rajesh.
Very Urgent Sir...
If an individual does business as a sole proprietor while preparing balance sheet apart from his business assets whether assets used for his personal purposes such as House Property, Investments made in LIC,NSC,Shares etc should also be included?
If Yes while showing these in the assets side under what head can i show in the liabilities side.
Thanks for your guidance.
With regards,
Rajesh.
Aditya Maheshwari
(Expert)
20 September 2010
Prepare seperate balance sheet of the firm and of the indivdual.
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