Kuldeep Singh Panwar 11 October 2019
i just want to clear that, can one proprietor use two capital a/c separately ( example one for personal and one for firm) and add:- firm's profit in both capital a/c.
please clear this doubt
CAclubindia Online Learning offers a wide variety of online classes and video lectures for various professional courses such as CA, CS, CMA, CISA as well as various certification courses on GST, Transfer Pricing, International Taxation, Excel, Tally, FM, Ind AS and more. know more
Deepak Gupta (CA Student) 11 October 2019
You can do the following:
1. Maintain one capital account in proprietary firm.
2. Maintain personal balance sheet separately for determining net worth.
3. Transfer the capital balance of proprietary firm under investments in personal balance sheet.