Company purchases a car against bank loan. Whether it is necessary to show the car as an asset in the B/S against loan (liability).
Can it be charged it off during the year. if so, explain.
Hitesh
(Chartered accountant)
(382 Points)
Replied 03 July 2014
Amit Gupta
(Account )
(67 Points)
Replied 03 July 2014
yea you need to show the car as an assest In your balance sheet & also you need to show the bank loan against the car it will be show in your liability side in your balance sheet & dep. charge on yearly base 15% am
vijay l
(Employed)
(31 Points)
Replied 03 July 2014
RADHIKA JALAN
(agarwal)
(1521 Points)
Replied 03 July 2014
RADHIKA JALAN
(agarwal)
(1521 Points)
Replied 03 July 2014
vijay l
(Employed)
(31 Points)
Replied 03 July 2014
RADHIKA JALAN
(agarwal)
(1521 Points)
Replied 03 July 2014
RADHIKA JALAN
(agarwal)
(1521 Points)
Replied 03 July 2014
RADHIKA JALAN
(agarwal)
(1521 Points)
Replied 03 July 2014
vijay l
(Employed)
(31 Points)
Replied 04 July 2014
| Originally posted by : RADHIKA JALAN | ||
 |
plzzz anyone correct me wherever am incorrect and explain it further...thnx in advance.. |  |
u always correct.. carry on..
RADHIKA JALAN
(agarwal)
(1521 Points)
Replied 04 July 2014
guru
(CA Business)
(121 Points)
Replied 07 July 2014
I feel What Amit has said, answers the question. To know more about accounting you can log on to www.reachaccountant.com
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