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Accounting treatment

This query is : Resolved 
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(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
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Amol S Joglekar

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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
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vipul bhatia

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vipul bhatia (Querist)
21 August 2015 i am not the part owner..but my father has a proportionate share......
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Amol S Joglekar

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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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