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What is the diferrence between a balance sheet and a
capital account????
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Answer Posted / alkesh b. kukadiya
BALANCESHEET SHOWS THE ENTIRE POSITION OF THE BUSINESS.
IT IS A STATEMENT OF AFFAIRS.
IT SHOWS POSITION AS ON PARTICULAR DATE
WHILE CAPITAL ACCOUNT SHOWS THE POSITION OR STAKE OF THE
OWNER.CAPITAL ACCOUNT PREPARED FOR THE WHOLE YEAR AND IT
SHOWS THE POSITION FOR THE WHOLE YEAR.IT REFLECTS THE TOTAL
WITHDRAWALS AND ADDITIONS BY THE PROPRIETOR DURING THE
YEAR.WE CAN FIND CAPITAL ACCOUNT ONLY IN PROPRIETORSHIP
FIRM OR PARTERNERSHIP FIRM MEANS NOT IN CO.
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