Personal assets

RAJ KUMAR (FINANCE MANAGER) (1393 Points)

11 September 2011  

HELLO FRIENDS, CAN ANYBODY TELL ME WHETHER SAVINGS A/C OF THE PROPRIETOR AND OTHER PERSONAL ASSETS SUCH AS JEWLLERY, FDR CAN SHOW IN THE BOOKS OF THE FIRM.

IF YES WHAT SHOULD BE THE ENTRY.
ASSET A/C- DR 

TO CAPITAL A/C

IS IT COMPULSORY TO SHOW PRIVATE ASSETS IN THE BUSINESS.

IF I DONT SHOW YHE SAVINGS A/C IN THE BUSINEES. WHAT ARE ITS CONSEQUENCES.

PLS. EXPLAIN ME CLEARLY.

THANKS.