Dear Sir
A Propriertership business works from 1 aprll 2023 to 31 May 2023 and after 1 June Changed proprieter to patnership firm ( New pan) So Please advise if i am not wrong we need to prepare 2 balance sheets 1 for proprieter from 1 st april to 31 May and second Balance sheeet for patnershio firm 1st june 2023 to 31 March 2024.
Yes.you are rightly posted.two different accounting periods must be done
CAclubindia
