balance-sheet-proprietor's capital account
This query is : Resolved
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
(Expert)
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 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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- TDS on Dashcam rent and allied services
- Import Order Cancelled.
- GSTR-9C filing
- Working on Gold wastage during Melting of old gold jewellery
- Form 144 TDS Return Validation Error – Mandatory Fields
- Applicability of tax on invoice
- Intimation under section 245
- GST ITC as per notification 12/2023- central tax
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
