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Capital a/c

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(Querist)
11 April 2012 Dear sir,

I have proprieter ship firm & his F.y.2009-10 net prfit 400000 than me amintain books of account in F.Y.2010-11 than how this profit entry
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
11 May 2012 The profit for the year is added to the capital balance and the closing balance is carried forward to the next year.

Profit for 2009-10 shall be added to the capital balance as on 1.4.09 and the resultant amount shall be opening balance of capital account in 2010-11.
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