The capital account of a professional is showing debit balance after all the entries. The balance sheet is a combined balance sheet ( personal and professional ). Can it be like this and will this create any problem while filing the return?
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Capital account
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Captial account is also Known as Financial account primary compoents BOP Balance of Payment ( and CA (Current Account)current account reflects a nation's net income, the capital account reflects net change in national ownership of assets.The term "capital account" is used with a narrower meaning by the International Monetary Fund (IMF) and affiliated sources..
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