Whether sole proprietor needs to his personal assets like house, ac, jewellery need to show in Balancesheet
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Does sole proprietor needs to show his personal assets in balance sheet
Replies (4)
not required
no dear only Indicate the amount of owners' equity. Owners' equity shows the amount of capital a sole proprietor has invested in the business...
yes sole proprietor needs to show his or her assets and liabilities in there balance sheet.
It is not necessary but can show (if you want) as sole. proprietor has unlimited liability unlike other business forms
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