Posting of lic premium & ppf
This query is : Resolved
04 August 2013
Greetings !
I want yo know where does the LIC premium & PPF postings are done - will it go to proprietor's capital account or directly to balance sheet - current assets ?
Please Help
I want yo know where does the LIC premium & PPF postings are done - will it go to proprietor's capital account or directly to balance sheet - current assets ?
Please Help
CMA Ramesh Krishnan
(Expert)
04 August 2013
LIC premium and ppf are need to deduct as drawings under proprietor`s capital account
Message likes :
1 times
05 August 2013
Thank you, But I want to know whether the PPF investments and LIC investments done till date that I have done since past 3 to 4 years will go to balance sheet under current assets ?
08 August 2013
They are personal assets and will NOT be shown in the Balance Sheet of the business.
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