17 October 2013
Whats the a/cs are prepaired under sole propritership firm is as below or more 1 trading,profit&loss a/c , 2 balancesheet 3 propriters capital a/c
and one more ques. can propriter paid firm exp. from his persnl credit card ???
17 October 2013
p&l account and balancesheet is sufficient . . recommended format was provided by icai in guidence note on tax audit,, . . Yes if proprietor paid for business expences from credit card he can account in his books provided he should have original bills..
CAclubindia
