Balance sheet finalization
This query is : Resolved
07 March 2013
How We Can Finalize the Balance Sheet of particular firm.It's Constitution is Proprietorship for 9 months, and partnership for 3 months in the same Financial year. Remember it- that proprietor is not became partner in that firm. Also, We Need to give annual balance sheet of the said firm to sale tax Department.
07 March 2013
Its assumed that for the first 7 months status in Proprietorship(Individual), and later it become a partnership firm. Also the proprietor become one of the partner in new partnership firm.
1.Prepare for the first 9 months financial statement, and draw a B/S P&L for that period seperately.
2.Execute deed of partnership, mention if any assets/liabilities are brought from erstwhile individual firm and arrive the capital, also mention newly coming partners contribution, and sharing ratio.
New Partnership firm will be based on the deed executed.
1.Prepare for the first 9 months financial statement, and draw a B/S P&L for that period seperately.
2.Execute deed of partnership, mention if any assets/liabilities are brought from erstwhile individual firm and arrive the capital, also mention newly coming partners contribution, and sharing ratio.
New Partnership firm will be based on the deed executed.
Message likes :
1 times
15 August 2023
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Payment of bonus act - notice pay recovery
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
