Posting of lic premium & ppf

This query is : Resolved

Abhijeet (Querist)
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04 August 2013 Greetings !
I want yo know where does the LIC premium & PPF postings are done - will it go to proprietor's capital account or directly to balance sheet - current assets ?
Please Help

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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04 August 2013 LIC premium and ppf are need to deduct as drawings under proprietor`s capital account

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Abhijeet

Abhijeet (Querist)
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05 August 2013 Thank you, But I want to know whether the PPF investments and LIC investments done till date that I have done since past 3 to 4 years will go to balance sheet under current assets ?

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