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Capital account is a balancing figure?
Accountancy
Where if a person starts a business..the money invested is takes as capital However there are some people who are dng profession or service etc for them there is no investment..when preparing books for those people capital is a balancing figure..like net worth for them??
Answers (3)
Sahibdeep Singh
If there is no investment, there would be no capital.
Yes sir but for some people like lic agents, doctors books are prepared for them capital is like balancing figure or net worth isn't it?????
Thread Starter
vasabattula abhinavYes sir but for some people like lic agents, doctors books are prepared for them capital is like balancing figure or net worth isn't it?????
Profits / comission etc. will then form part of capital
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