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Two capital a/c in a proprietorship firm ?


Kuldeep Singh Panwar   11 October 2019

Kuldeep Singh Panwar

 7 points

| My Other Post

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 
 2330 likes  15188 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.

1 Like
avater

sabyasachi mukherjee   13 October 2019

sabyasachi mukherjee

 113 likes  3048 points

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

Law Aspire (CS)     28 January 2020

Law Aspire
CS 
 17 likes  755 points

View Profile | My Other Post

Originally posted by : Deepak Gupta
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.

 

Best option provided.

 

Thanks


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