Accounts

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SAMIR DESAI (Querist)
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14 March 2012 Dear Sir,

I have proprietorship firm & i have gain of Rs. 461937/- than how pass entry in my indivisual tally account

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 March 2012 Proprietorship firm & individual are one and the same. Separate books are not maintained in such a case.

SAMIR DESAI

SAMIR DESAI (Querist)
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14 March 2012 if me maintain difference books of account than

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 March 2012 Then you can pass an entry:

Profit Receivable
To Capital in Firm

SAMIR DESAI

SAMIR DESAI (Querist)
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14 March 2012 both in which head mention

SAMIR DESAI

SAMIR DESAI (Querist)
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14 March 2012 Sir Please tell me profit receivable in assets head

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 March 2012 Profit Receivable - Asset
Firm name - Liability

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