Reserve in sole proprietorship

05 November 2021

treatment of reserve sole proprietorship

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5 Replies

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 05 November 2021

I think reserves are created as per companies acts and treated definitely by AS standards

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CA Altamush Zafar (GST Consultant) (15961 Points)
Replied 06 November 2021

You can have a separate reserve but will sere no purpose in sole propreitorship since it will be effectively a part of his capital

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 07 November 2021

It will be treated as a seperate reserve

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Atharv Sankliya (1323 Points)
Replied 07 November 2021

Its entry??

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 09 November 2021

Bank a/c

To. Capital a/c or reserve a/c

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