Presumptive can be added to capital account for further use

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19 Points Posted on 04 January 2023
when presumptive profit is more than actual profit than wheather it can be added to capital account to increase capital in books
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On 04 January 2023 at 18:37 Report
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This discussion explores whether presumptive profit, when higher than actual profit, can be added to a business's capital account. The consensus is no, as this doesn't reflect a real increase in assets. It also touches upon drawings, clarifying that these can be made from capital as well as income.

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SEO Sai Gr. Hosp.
212503 Points Posted on 04 January 2023

No. Because the assets doesn't get increased, in reality.

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On 04 January 2023 at 20:33
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19 Points Posted on 04 January 2023
Than how much amount one can have for drawings thatis usual
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On 04 January 2023 at 21:37
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SEO Sai Gr. Hosp.
212503 Points Posted on 04 January 2023

For drawings, that need not be only from income, it can be capital withdrawal too...

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On 04 January 2023 at 22:06

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