Capital account in New balance sheet
This query is : Resolved
Quick Summary
Vaneet Monga
(Querist)
21 March 2023
Respected Sir.
Good afternoon
I am prepare Balance sheet for Sole-Proprietorship In new format (Non Corporate entities ) So where i Show proprietor has some deposit amount in PPF account and have some Insurance Health and other so can we insert one or two column in capital account,s format or note . In format have below
Name of Partner/ Proprietor/ Owner
"Share of profit/ (loss) %
As at 1st April 20XX (Opening Balance)
Capital Introduced/contributed during the year
Remuneration for the year
Interest for the year
Withdrawals during the year
Share of Profit / Loss for the year
As at 31st March 20XX (Closing Balance)
No mention any other detail so please provide your valuable suggestion
Good afternoon
I am prepare Balance sheet for Sole-Proprietorship In new format (Non Corporate entities ) So where i Show proprietor has some deposit amount in PPF account and have some Insurance Health and other so can we insert one or two column in capital account,s format or note . In format have below
Name of Partner/ Proprietor/ Owner
"Share of profit/ (loss) %
As at 1st April 20XX (Opening Balance)
Capital Introduced/contributed during the year
Remuneration for the year
Interest for the year
Withdrawals during the year
Share of Profit / Loss for the year
As at 31st March 20XX (Closing Balance)
No mention any other detail so please provide your valuable suggestion
21 March 2023
Generally the investments or personal assets & liabilities not related to business or professions are not declared in the BS relevant to business &/or profession. These are declared in capital account separately. Still if you wish, you can modify the BS format as per your need.
Message likes :
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CA R SEETHARAMAN
(Expert)
21 March 2023
These are personal deposits and insurance no need to show it in balance sheet.
Vaneet Monga
(Querist)
28 March 2023
Dear Sir, I have posted a query under income tax . But it shows "Your query has been posted. Will start displaying after moderation".
again i have posted with other Subject same message our query has been posted. Will start displaying after moderation".
Please suggest what is this
again i have posted with other Subject same message our query has been posted. Will start displaying after moderation".
Please suggest what is this
CA R SEETHARAMAN
(Expert)
28 March 2023
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