Balance sheet of proprietor

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Can I show residential house of proprietor in his balance sheet?
Replies (2)

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 

Thank you so much sir for making it clear.


CCI Pro

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