HOW TO MAKE BALANCE SHEET OF PROPRIETOR?
IF THERE ARE ANY OTHER INVESTMENT OF PROPRIETOR LIKE
FLAT,GOLD,SILVER THEN WHAT WILL BE THE CAPITAL OF PROPRITOR
IN HIS PERSONAL BALANCE SHEET? WILL THE CAPITAL OF HIS FIRM
WILL BE THE CAPITAL OF HIS PERSONAL BALANCE SHEET? FOR
EXAMPLE IN HIS FIRM CAPITAL A/C IS 39LAC.BUT IN HIS OTHER
INVESTENT(WHICH HAS NOT BEEN SHOWN IN HIS FIRM'S BALANCE
SHEET) HE HAS FLAT OF 310000, GOLD OF RS.15LAC AND SILVER
OF RS.3LAC THEN WHAT WOULD BE HIS PERSONAL BALANCE SHEET?
PLS ANSWER ME.
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Answer Posted / ujjal
IN ACCOUNTING TERMINOLOGY ENTERPRISE AND ENTREPREUNER ARE
TWO DIFFERENT ENTITIES.AN ENTREPREUNER'S PERSONAL
BELONGINGS AND ASSETS WILL NOT FEATURE IN THE ENTERPRISE'S
BALANCE SHEET UNTIL AND UNLESS THEY ARE DEPLOYED FOR
BUSINESS PURPOSE.CAPITAL OF HIS OWN BUSINESS IS 39 LACS
UNLESS PROVIDED FOR
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