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?
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?
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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CAclubindia
