balance sheet

105 Points Posted on 13 July 2018

if a person has income from business as well as salary then will he has to add both income in balance sheet below capital or only business income?

Replies (3)

Chartered Accountant

1405 Points Posted on 13 July 2018

Salary + Net profit. Net profit is to be added and not business income.

CA Student

58 Points Posted on 13 July 2018

You show the salary income in credit side of p&l account and it should be shown seperately under the head ' Income from Salary' in income statement.

"Do the Right Thing...!!!"

77792 Points Posted on 13 July 2018

Originally posted by : Saurabh Kumar
	if a person has income from business as well as salary then will he has to add both income in balance sheet below capital or only business income?

Yes... If You are prepare P and L account then You will transfer the Profit amount to Your Capital Account and Also Salary...

Note :

Salary amount nott calculated under Business Head and It's PandL

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