Personal balance sheet and business balance sheet

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 April 2013 respected sir,
please clarify the difference between business balance sheet and personal balance sheet.

whether" cash in bank" colum in it return covers cash balance in all bank account that a person have ? or cash balance in bank occounts which are used for business only .
please clarify.

CA LOKESH KASAT, FCA, M.Com

CA LOKESH KASAT, FCA, M.Com (Expert)
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08 April 2013 Business Balance Sheet shows the asset and liabilities of business which are completely related to business and will form part of FINANCIAL STATEMENT.

Personal Balance Sheet is only for our knowledge for asset and liability belong to us. Legally it is of no use