balance-sheet-proprietor's capital account

This query is : Resolved

shravan (Querist)
Follow

14 June 2008 A proprietor's capital a/c must be a credit balance.It was so in one of our client's case.But, after claiming additional depreciation the capital balance becomes a debit balance.Now,what are the ways of making it a credit balance except for introducing cash and reducing exp. other than deprecition?

Chintan Gajjar

Chintan Gajjar (Expert)
Follow

27 June 2008 Dear Sir,

You can show separate Current A/c of such Capital A/c.
You may decrease any adjustable liabilities like Unsecured Creditors which are on books only. Or
you may create any other Assets like Goodwill. Anyother Assets brought into the books. You may bring his Residential House (if Prop. Business).

Regards,
Chintan

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA Uzma Khan

S D Kannan

CA Saurabh Jadhav

Ramesh Thammineni

SARAN KUMAR

Subscribe Now

balance-sheet-proprietor's capital account

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

Manager- Finance and Compliance

CA Final

Accountant

GST CONSULTANT

GST CONSULTANCY