What should be included in balance sheet of individual?

Page no : 2

Neha Mittal (240 Points)
Replied 30 November 2017

she is preparing for the first time bsheet of that individual so there will not be opening balance.

Neha Mittal (240 Points)
Replied 30 November 2017

Professional income will be direct income and related expenses and other intt income should be part of p&l

as first time preparing bsheet then introduce capital through cash and other assets and liabilities as per bank statement.

Divakar (Student CA Final ) (11857 Points)
Replied 30 November 2017

Why introduction of capital only through cash... It may be through bank ac also... And she is preparing first time balance sheet then also closing capital is reported... An assesse can make various transaction through out the year... Introduction of capital is opening capital... Then addition of capital and withdrawal of capital.. Drawings ac... Capital account should be prepared just lika cash and bank account...

Neha Mittal (240 Points)
Replied 30 November 2017

yr hadh ho gyi hai.. back date me Jake 2014-15 me bank me entry kaise ho Sakti h.. bank statement me ni hai kuch bi capital introduction to cash se hi hoga na

Divakar (Student CA Final ) (11857 Points)
Replied 30 November 2017

Haha why r u getting tamper itne me hi... Bank account pahle se nahi honge kya.. Logo ke pas savings nahi rahte kya.... Business kaise start hoga... Khair leave it.. I already ignore... But then asked by raja sir thats why i reply...

Divakar (Student CA Final ) (11857 Points)
Replied 30 November 2017

Aur capital introduction kind me v hota hai... Not only in cash... If someone bring fixed assets in the busienss then that is also his capital... And don't get tamper in just a while... Sorry for the reply

Neha Mittal (240 Points)
Replied 30 November 2017

If the bsheet have already been prepared she will not asked this question in the first place.

Neha Mittal (240 Points)
Replied 30 November 2017

I have never get tempered @ divakar just telling you 😂😂😂

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Divakar (Student CA Final ) (11857 Points)
Replied 30 November 2017

Hahha.. Thats great if u r not getting tamper... And i am sorry of any thing said wrong... But just understand capital introduced in the beginning of year and the whole year u make a lot of transaction... Then u hav to prepare capital account na??

Divakar (Student CA Final ) (11857 Points)
Replied 30 November 2017

I am arguing with u.. That doesn't mean i am fighting with u... Arguments always give some knowledge... Bcz u listen both end

Divakar (Student CA Final ) (11857 Points)
Replied 30 November 2017

Phr to wo sab sare adjustment hote h... Jo man ho kare.. Jo practicality hota hai... If client has not any bank balance then only option left cash... I am not denying that... I am just telling proper method

1 Like