How to show a joint bank account in an individual's balance sheets

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If a Savings Bank Account has 3 Joint Holders - A, B, C (Father and his two sons) and three of them have made their respective transactions through this account only. B is the 1st holder. 

A is salaried person, B has professional income and some investment income and C has mostly investment income in this account. Regarding the expenses - most of the expenses are personal drawing in nature and few of it are related to B's professional expense.

Now, if I require to prepare Balance Sheet of three of them, then how to show this bank account in each of their balance sheets and at which balance?

Replies (4)
Show the bank in the first holder account only and pass Journal entry for current asset , current liability as payable to or receivable from other join holders.

Practical solution hereafter is -
Open separate bank accounts and do the transactions separately.

Don't show bank balance in all the three accounts as you will not be able to allocate bank charges , saving bank interest to the three holders.
Yes... I agreed to Mr Raj C Doshi.,

@ Mr A B Kundu.,

The account number using for 1st holder's ITR.
Better to seggeregate the transactions and to prepare Journal entry from A to B & C.

Thank you Mr. Doshi and Mr. Raja for your valuable reply.

You are most welcome Mr A B Kundu...

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