02 October 2007
Presentation of financial data in any form is for the use of reader subject to the requirement of legislature and guidance note of ICAI etc. The reuirement of presenting capital of proprietor is to show the opening balance of capital, fresh contribution (additions), drawings, Profit/loss for the period and closing balance. In order to disclose these particulars follow the generally accepted accounting practice. Capital is the first header on Liabilities side of the Balance Sheet.
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