Balance sheet

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2015 respected sir,
please discuss the difference between personal balance sheet and business balance sheet (which we submitt to the department through itr ).and how to co-relate these two balance sheets .please disuss

Nikhil Kaushik

Nikhil Kaushik (Expert)
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03 June 2015 business balancesheet doesnt include personal assets and liabilities. And the personal balancesheet will include the net worth of the business in it as an asset. In case of negative net worth, it will reflect as a liability