Capital account
This query is : Resolved
vilas yeole
(Querist)
02 June 2012
how to handle capital account when ur finalising accounts.
02 June 2012
plz. write the head / item which is problem to be treated in finalisation.
Message likes :
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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.
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.
It is not correct that payment made in earlier year shall be shown in this year.
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