Gifts received in cash & personal investments

1
  1. Is it correct to record gifts received in cash in Equity - Capital Accounts named as gifts?
  2. Investments in SIP, Mutual Funds & Fixed Deposits. How should it be recorded using chart of accounts?
2
  1. Yes but only if the cash is going into the business bank account
  2. You would open Balance Sheet - Assets accounts
3

Ok. Thank you.