Accounting treatment
This query is : Resolved
vipul bhatia
(Querist)
18 August 2015
i am running my repair & maint shop.
Shop is co-owned by my father and his brother.Whether this shop has been included in my BALANCE sheet as fixed asset.
Is there any other treatment of this shop in my balancesheet
Shop is co-owned by my father and his brother.Whether this shop has been included in my BALANCE sheet as fixed asset.
Is there any other treatment of this shop in my balancesheet
Amol S Joglekar
(Expert)
18 August 2015
Are you a PART owner of the said shop?
If yes, include the proportionate share in your balance sheet
If no, dont include
If yes, include the proportionate share in your balance sheet
If no, dont include
vipul bhatia
(Querist)
21 August 2015
i am not the part owner..but my father has a proportionate share......
Amol S Joglekar
(Expert)
21 August 2015
In that case, you do NOT have to show the shop in your balance sheet.
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