Two capital a/c in a proprietorship firm ?


Kuldeep Singh Panwar   11 October 2019

Kuldeep Singh Panwar

 7 points

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Dear All,

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

thank you. 

 

avater

Deepak Gupta (CA Student)     11 October 2019

Deepak Gupta
CA Student 
 2236 likes  14317 points

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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.

avater

sabyasachi mukherjee   13 October 2019

sabyasachi mukherjee

 50 likes  1598 points

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If you are maintaining a seperate capital account
then its ok.
Maintain seperate balnce sheet .
Non Current Investments .


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