I want to prepare Capital A/c of sole proprietor. Kindly tell all possible content of Debit side and Credit Side of Capital A/c of Sole Proprietor. Can i add interest credited on saving or current bank account to credit side of Capital A/c? Also please tell if i Debit following items to Debit side of Capital A/c: Premium on Insurance, Tution Fee, Mutual Fund, PPF etc.? Thanks in advance.
Thank sir for your reply. Please tell what to do if i make expenditure on my own insurance policies, own mutual funds, own ppf, medical expenditure on myself? Can i debit this to Capital A/c? Also please tell, Can i credit Interest received on Saving and Current Bank Account to the Capital A/c? All above queries are related with Sole Proprietorship Business.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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