How to make account of interior decor business

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Akhilahmad Raza (Querist)
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16 December 2015 how to make account of interior decor business 1 st time of individual.
which expense can be shown under profit and loss a/c
and how we decide initial capital of that individual.

Ankur Singhal

Ankur Singhal (Expert)
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16 December 2015 Dear interior decor is a professional.

so pls check the current account of the firm and the personal saving account of the person.
the amount transferred from saving account to the current account shall be treated as capital.
Investments in asset should be matched with the capital.
Expense related to the performance of duty should be expensed.

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