Dear Sir
after death of proprietor capital account value transfer to his both sons 31.03.21 please suggest in busy which group we create the ledger proprieto,s both sons
Pass entry if capital of old proprietor transfer to both the son's in proportionate or as per agreement , So same capital brought in the business buy both the son's .
Proprietor s Capital A/c Dr
To Son A Capital A/c Cr
To Son B capital A/c Cr
( Being old proprietor capital account transfer to both son )
Both the son's Capital account will be under Capital account , liability side , Balance sheet.
CAclubindia
