One of our Client has income from salary and now we shall file his return. Along with return he ask for his balance sheet.
How can I make Balance sheet from Income of Salary? Please guide..... Thanks in advance....
4 Replies
anirudha pangarkar
( article assistant)
(43 Points)
Replied 19 January 2013
Add salary to his capital account in balance sheet
CA Manoj Chaudhary
(Finance Manager)
(31 Points)
Replied 19 January 2013
You can make balance sheet by taking salary income and savings his capital...show car , furniture etc as asset. Show investments cash in hand, bank balance...show loans and advances taken/given from/to relatives or friends and so on....this is only for satisfaction of your client..otherwise there is no such need/ practice.
Vishal Varun
(Student)
(648 Points)
Replied 19 January 2013
| Originally posted by : anirudha pangarkar | ||
 |
Add salary to his capital account in balance sheet |
 |
Yup.........
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