Proprietor's expenses
This query is : Resolved
15 February 2016
I am working in proprietorship. I want to ask that can I book expenses made on Proprietor's home and farm hose i.e. rent of genset under 'proprietor drawing' account. But if i do this than capital will be decrese.
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Read more at: https://www.caclubindia.com/forum/proprietor-s-expenses-349626.asp
15 February 2016
You have to decrease the capital thats the only legal way out.
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15 February 2016
Yes you can book. If you book the profit earned at the year end it will increase.
15 February 2016
Yes you can book. If you book the profit earned at the year end it will increase.
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15 February 2016
If your withdrawl is more than profit then your closing capital will be decrease.
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