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Assets brought in by sole proprietor along with capital.

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 October 2013 How to determine the value of assets brought in by the proprietor for starting a business.
(a)if the original cost of the asset is known.
(b)if the original cost of the asset is not known.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
11 October 2013 Both the cases asset need to be valued as on the transfer date and record in the books. not to take the original cost
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Querist : Anonymous

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Querist : Anonymous (Querist)
11 October 2013 which valuation method to be used while valuing the assets?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
11 October 2013 Get some valuation report some experts for those assets or market value can be adopted

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