Proprietor with two different business incomes!

Yes, but better to exclude personal assets, unless utmost necessary.

Originally posted by : Dhirajlal Rambhia
	Yes, but better to exclude personal assets, unless utmost necessary.

Sir.. 

But there are some assets which are used for BOTH the businesses above, 

like Motor Car, Laptop etc.. 

Depreciation of the same to be taken in combined P& L A/C or 

how to bifurcate the depreciation between the two seperate P & L A/C's??

When depreciation is to be charged, it doesn't remain personal asset. It is to be accounted in any one business and depreciation is to be debited from the same business. (Even though it may be partly used for another business)