NET WORTH CALCULATION
This query is : Resolved
26 April 2011
Which items should be considered for net worth calculation ???
In case of individual Mr A who is Proprietor of ABC where fixed deposits of ABC are in the name of Mr. A & Cash Credit,O/D limits are availed by ABC
Should the FD & CC figures form part of net worth calculation in the above case ???
Plz Rply ......
In case of individual Mr A who is Proprietor of ABC where fixed deposits of ABC are in the name of Mr. A & Cash Credit,O/D limits are availed by ABC
Should the FD & CC figures form part of net worth calculation in the above case ???
Plz Rply ......
CMA Ramesh Krishnan
(Expert)
26 April 2011
Fixed Deposits are not net worth of business but net worth of A
CA Ravi Sisodia
(Expert)
26 April 2011
fixed deposits of ABC in the name of Mr.A then it will be include in net worth of ABC.
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27 April 2011
Look in case of Proprietorship Firm two different Balance Sheets are prepared. One for Business and one personal Balance Sheet.
So Fixed deposit in the name of Mr A (If FD is of out of funds of ABC) will form part of Net Worth of Business.
So Fixed deposit in the name of Mr A (If FD is of out of funds of ABC) will form part of Net Worth of Business.
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27 April 2011
@CMA Sanjay Gupta
A is Individual & is having ABC Proprietor Business. in that Should the Investment of A in ABC be Considered in Calculation of Net Worth of A
A is Individual & is having ABC Proprietor Business. in that Should the Investment of A in ABC be Considered in Calculation of Net Worth of A
27 April 2011
Yes. The Investment of A in ABC should be Considered in Calculation of Net Worth of A.
But in case A has an FD in his name same can not be considered in calculation of Net Worth of ABC Business.
But in case A has an FD in his name same can not be considered in calculation of Net Worth of ABC Business.
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