Why capital a/c shown in b/s in case of individual
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2013
Dear Friends,
In a business b/s, capital a/c is shown under the liablities head becoz of the concept that business and businessman are different, but while in some cases we have to make the b/s in case of individual, why capital a/c is shown under liablities head, its personal b/s, so its personal money, which it is shown under liablities.
Thanks & Regards,
Rajat Goyal
In a business b/s, capital a/c is shown under the liablities head becoz of the concept that business and businessman are different, but while in some cases we have to make the b/s in case of individual, why capital a/c is shown under liablities head, its personal b/s, so its personal money, which it is shown under liablities.
Thanks & Regards,
Rajat Goyal
07 August 2013
Because as the money is personal and not of business the entity has taken a loan from propritor in the form of capital and it is liable to be paid by entity to the business man personally that is y.
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