Capitala/c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 May 2012
DEAR SIR,
CAN ANY ONE KEEP TWO CAPITAL A/CS ONE IN BALANCE SHEET OF HIS PROPRIETORSHIP FIRM & 2nd IN HIS OWN BALANCE SHEET
CAN ANY ONE KEEP TWO CAPITAL A/CS ONE IN BALANCE SHEET OF HIS PROPRIETORSHIP FIRM & 2nd IN HIS OWN BALANCE SHEET
Sumti Bhadani
(Expert)
15 May 2012
It can be possible if two different set of balance sheet is prepared i.e one for the Prop. firm and other for his own. The capital account of the prop. firm will be represented as " Investment in prop. firm" at asset side in his own personal B/s.
CA Parmeshwar Rathi
(Expert)
16 May 2012
AGREE WITH SUMIT
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