Accounts
This query is : Resolved
14 March 2012
Dear Sir,
I have proprietorship firm & i have gain of Rs. 461937/- than how pass entry in my indivisual tally account
I have proprietorship firm & i have gain of Rs. 461937/- than how pass entry in my indivisual tally account
14 March 2012
Proprietorship firm & individual are one and the same. Separate books are not maintained in such a case.
14 March 2012
if me maintain difference books of account than
14 March 2012
Then you can pass an entry:
Profit Receivable
To Capital in Firm
Profit Receivable
To Capital in Firm
14 March 2012
both in which head mention
14 March 2012
Sir Please tell me profit receivable in assets head
14 March 2012
Profit Receivable - Asset
Firm name - Liability
Firm name - Liability
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