What should be included in balance sheet of individual?
Page no : 5
Neha Mittal
(240 Points)
Replied 02 December 2017
prasad Nilugal
( GST Practitioner & Accounts )
(14805 Points)
Replied 02 December 2017
For contact employee you can opt 44 ADA , please confirm .
Neha Mittal
(240 Points)
Replied 02 December 2017
The original question is about preparing balance sheet for fy 2013-14
The opening capital as on 1/4/13 should be as follows:
Add
1. balance of all bank accounts as on 31/3/13
2. cash balance as on 31/3/13(assumed)
3. investments (FDs, RD, Mutual funds, securities etc) as on 31/3/13
4. loans and advances (asset) given as on 31/3/13
5. fixed assets as on 31/3/13(depreciated value)
6. Any other asset as on 31/313
Less:
7. secured/ unsecured loans balance as on 31/3/13
8.any other liabilities as on 31/3/13
The above amount should be taken as opening capital balance in tally.
All the above values from 1 to 8 above should be taken as opening balances of the respective assets or liabilities in tally.
The transactions for the year FY 2013-14 (1/4/13 to 31/3/14) should be accounted in tally. After that we will arrive at the balance sheet as on 31/3/14
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