Do source of funds and application of fund have to be same in balance sheet?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (185664 Points)
Replied 09 April 2025

Yes, it should be same, may be through creditors or loans in the referred case.

Manu (Mr) (136 Points)
Replied 09 April 2025

Can i show the total value of application of funds in proprietor's fund to match the numbers?

Attached File : 1613244 20250409195902 2025 04 09 185511.jpg downloaded: 15 times

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (185664 Points)
Replied 09 April 2025

Yes, why not?

Manu (Mr) (136 Points)
Replied 10 April 2025

ok

Thanks.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (185664 Points)
Replied 11 April 2025

My pleasure.

Rama chary Rachakonda (Master in Accounts & high court Advocate email ID:ramachary64@gmail.com voice no:9989324294) (7494 Points)
Replied 11 April 2025

Accounting for Proprietor's Funds When preparing financial statements, it's essential to accurately represent the application of funds.

If you're considering showing the total value of application of funds in proprietor's funds to match the numbers, consider the following:

Proprietor's Funds Proprietor's funds typically include the owner's capital, retained earnings, and any other reserves.

When accounting for the application of funds, ensure that you're accurately reflecting the sources and uses of funds. Matching Numbers If you're trying to match the numbers, consider the following options: -

*Review Financial Statements*: Ensure that your financial statements are accurate and complete. -.

*Reconcile Accounts*: Reconcile any discrepancies in your accounts to ensure that your financial statements are balanced. -

*Seek Professional Advice*: Consult with a qualified accountant or financial advisor to ensure that your financial statements are accurate and comply relevant accounting standards.

Accounting Standards When preparing financial statements, it's essential to comply with relevant accounting standards,

such as: - *Generally Accepted Accounting Principles (GAAP)*: Ensure that your financial statements comply with GAAP or other relevant accounting standards.

- *Financial Reporting Standards*: Comply with financial reporting standards, such as those issued by the Financial Accounting Standards Board (FASB) or the International

Accounting Standards Board (IASB). Recommendations - *Consult a Professional*:- *Verify Requirements*: Confirm the specific requirements for financial reporting and accounting in your jurisdiction.

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