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Is correct way to find out capital of individual on 31st March

This query is : Resolved 
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(Querist)
26 November 2024 is correct way to find out capital of individual on 31st march
sales A/c Dr
Income A/c Dr
profit from firm A/c Dr

To purchase A/c
To Expenses A/c
To Drawing A/c
To Loss A/c
To TDS/TCS/Advance Tax paid
and Difference amount to be treated as capital.

and 2nd Entry on 31st march profit or loss to be passed
in the case of profit
Profit and Loss A/c Dr
To Capital A/c
in the case of loss
Capital A/C Dr
To Profit and Loss A/c
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
27 November 2024 Yes, technically correct.
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