Balance sheet

This query is : Resolved

HARJEET SINGH (Querist)
Follow

25 September 2011 Sir, a person A prop of ABC starts a new business XYZ and takes a od limit from bank in the name of ABC but uses the money in XYZ. Now how can I prepare the balance sheet and file the return. The business of XYZ is dairy farming income.

SIVARAMAN and SUNDARAM

SIVARAMAN and SUNDARAM (Expert)
Follow

25 September 2011 Dear Harjeet

Your question is not clear. For whom you have to file the return ?

Clarify.

Regards

HARJEET SINGH

HARJEET SINGH (Querist)
Follow

26 September 2011 Dear, A is the prop of both the firms. I have to file the return of A. ABC is having tax audit.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

27 September 2011 Books of ABC

Loan from bank is unsecured loan shown on the liabilities side.

Show the amount used for XYS as Loan to XYZ. Will be shown under loans and advances on the asset side.

Books of XYZ

Loan from ABC will be shown under unsecured loan.

Hope your query is resolved.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Pavithra Doss

venkatesh c

Richa Bajoria

sriram deven

atul kumar soni

Subscribe Now

Balance sheet

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA