Balance sheet for salaried

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1359 Points Posted on 31 December 2021
balance sheet for salaried person is same as business b/s ???
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On 31 December 2021 at 16:58 Report
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A balance sheet for a salaried individual is fundamentally different from a business balance sheet. While businesses have a drawing account that reduces proprietor's capital, individuals simply withdraw their own cash. This distinction is key to understanding personal versus business financial statements.

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Company Secretary
7085 Points Posted on 31 December 2021
No..totally different aspects
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On 31 December 2021 at 17:51
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1359 Points Posted on 31 December 2021
Does it have drawing account??
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On 31 December 2021 at 17:56
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Company Secretary
7085 Points Posted on 03 January 2022
Yes but in case of Business only drawing account and it will be deducted from the capital account of the propreitor

individual can drew his amount which will be his own personal cash outflow
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On 03 January 2022 at 20:29

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