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Capital account

This query is : Resolved 
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(Querist)
02 June 2012 how to handle capital account when ur finalising accounts.
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CA. AVINASH MANDOWARA

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CA. AVINASH MANDOWARA (Expert)
02 June 2012 plz. write the head / item which is problem to be treated in finalisation.
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vilas yeole

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vilas yeole (Querist)
02 June 2012 tution fees and income tax of earlier year taken in current year is that correct.but due to which drawings increasing and capital going to liability side.
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Soumitra Basu

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Soumitra Basu (Expert)
03 June 2012 Capital Gain should be treated as capital reserve. If it is individual it should be added with capital (book value).
It is not correct that payment made in earlier year shall be shown in this year.
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