Profit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2012 DEAR SIR
I RECEIVED FROM MY COMPANY AS A PROFIT RS.100,000/- AND I HAVE MY OWN PERSONAL ACCOUNTING SYSTEM AND I HAVE TO RECORD THIS AMOUNT I MAKE ENTRY
BANK A/C DR
TO
PROFIT FROM FIRM
I WANT TO KNOW 'PROFIT FROM FIRM' UNDER WHICH A/C HEAD I HAVE TO CREATE. (IN THE SOFTWARE)AND I HAVE CAPITAL IN THIS CO RS200,000/-

THANK YOU

piyush goplani

piyush goplani (Expert)
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17 May 2012 Hi,
can you please tell me what do you know by MY COMPANY, i.e are you the owner of the company
and where you want to make the entry i.e in you own Books of Accounts or BOA of comapny..

Regards:
Piyush Goplani

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Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2012 SIR
YES I AM THE OWNER OF THE COMPANY AND I WANT TO BOOK MY OWN BOOKS OF ACCOUNT.

THANK YOU FOR YOUR REPLY

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CA PARTH SHAH

CA PARTH SHAH (Expert)
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18 May 2012 YOU ARE OWNER OF THE COMPANY MEAN WHAT??
IS THIS A PRIVATE LIMITED COMPANY IN WHICH YOU HAVE INVESTED IN SHARE CAPITAL OF THE COMPANY? OR IT IS A PROPRIETORSHIP FIRM? PLEASE CLARIFY

CA PARTH SHAH

CA PARTH SHAH (Expert)
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18 May 2012 YOU ARE OWNER OF THE COMPANY MEAN WHAT??
IS THIS A PRIVATE LIMITED COMPANY IN WHICH YOU HAVE INVESTED IN SHARE CAPITAL OF THE COMPANY? OR IT IS A PROPRIETORSHIP FIRM? PLEASE CLARIFY

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CA PARTH SHAH

CA PARTH SHAH (Expert)
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18 May 2012 YOU ARE OWNER OF THE COMPANY MEAN WHAT??
IS THIS A PRIVATE LIMITED COMPANY IN WHICH YOU HAVE INVESTED IN SHARE CAPITAL OF THE COMPANY? OR IT IS A PROPRIETORSHIP FIRM? PLEASE CLARIFY

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Querist : Anonymous

Querist : Anonymous (Querist)

18 May 2012 sir
IT IS A PROPRIETORSHIP FIRM

CA PARTH SHAH

CA PARTH SHAH (Expert)
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19 May 2012 IN YOUR PERSONAL SET OF BOOKS OF ACCOUNT THERE WILL BE AN ACCOUNT ON DR SIDE AS "XYZ ENTERPRISE" WHICH IS THE CAPITAL A/C OF YOUR PROPRIETORSHIP BUSINESS. THE BALANCE MUST BE RS 200000 AS SAID BY YOU. NOW YOUR BUSINESS MADE PROFIT OF RS 1,00,000 SO ENTRY WILL BE IN YOUR PERSONAL BOOKS WILL BE
"XYZ ENTERPRISE" DR
TO "YOUR PERSONAL CAPITAL A/C"

XYZ ENTERPRISE WILL BE SHOWN UNDER LOANS & ADVANCE HEAD

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Querist : Anonymous

Querist : Anonymous (Querist)

19 May 2012 SIR
CAN YOU TELL ME THIS 'YOUR PERSONAL CAPITAL A/C' UNDER WHICH HEAD I CAN CREATE.(UNDER EQUITY OR INCOME)

THANK YOU

piyush goplani

piyush goplani (Expert)
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21 May 2012 Hi,
You have to create that Personal Capital account under the head of ''CAPITAL''

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