Balance sheet of proprietor
Smita (Student CA IPC / IPCC) (24 Points)
06 June 2017
Can I show residential house of proprietor in his balance sheet?
2 Replies
Shubham Gupta
(Business Consultants)
(2077 Points)
Replied 06 June 2017
yes,
in case of proprietor,balance sheet is prepared 2 ways, by professionals
1) Including all the assets and liabilities of business and personal(i. e proprietor)
2) keeping balance sheet limited to only business assets and liabilities,and personal balance sheet separate
both ways are correct
Smita
(Student CA IPC / IPCC)
(24 Points)
Replied 06 June 2017
Thank you so much sir for making it clear.
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