Balance Sheet

ITR 137 views 2 replies

student

67 Points Joined January 2020

For the first balance sheet of a taxpayer, is there any limit for opening of Capital Account balance.

Also how to justify its value?

Replies (2)

Chartered Accountant

4524 Points Joined July 2014

Capital = total assets- (Long term and short term liabilities + current liabilities and provisions)

Chartered Accountant

821 Points Joined February 2012

Capital Account balance would be a residuary figure (Assets - Liabilities)

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