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balance sheet
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)
Salary + Net profit. Net profit is to be added and not business income.
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.
| 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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