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FORMAT FOR BALANCE SHEET
The non current assets, current assets and current liabilities sections remain identical to those of a sole proprietorship. However, the “capital section will change to reflect the capital contribution by each partner..Example of a balance sheet where there are 3 partners A, B and C.
Land & Buildings
Fixtures & Fittings
Plant & Machinery
Investments, goodwill etc
Less provision for bad and doubtful debts
Working capital (C.A – C.L)
Current A/Cs: A
Long term loans
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