Hello ,
I want to understand and know whether a Propreitory Firm need to show House Asset value in balance sheet which is owned by Propreitor. I am of opinion that it's owned by individual and not by Firm name,so not required to show in company balance sheet .Please correct me if I am wrong .
Also whether Gold or personal loan or house loan taken by Propreitor need to be shown in Firm balance sheet .
House Purchased in 2004 with home loan and Firm started in 2019.
Thank you
CAclubindia
