valuation problem of personal assets
This query is : Resolved
09 August 2010
sir, In making a personal balancesheet
whether the value of personal assets like
land, share, gold are to be shown at market value or its acquisition cost.?
whether the value of personal assets like
land, share, gold are to be shown at market value or its acquisition cost.?
09 August 2010
At its acquisition cost only.
09 August 2010
Agreed with Shri Aditya.
But if you are preparing the balance sheet for the purpose of bank finance; then prepare it according to the market value.
But if you are preparing the balance sheet for the purpose of bank finance; then prepare it according to the market value.
09 August 2010
In addition also if u are making for bank finance then value the assets at cost for th purpose of balance sheet and give a networth certificate valuing assets at market price.
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