15 February 2010
Dear Experts, Pls. tell me how to calculate net worth of an individual, who is partner of a partnership firm. Pls. give me format for the same.
15 February 2010
The networth is calculated on the following parameters.
1. Add all the personal assets of the Individual.
2. Calculate the networth of the firm separately and as per the profit sharing ratio, calculate the share of the partner in the firm. Add this amount to the amount arrived at 1.
3. From the amount arrived at 2 above, deduct all the personal loans and liabilities of the Individual.
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