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This query is : Resolved
23 November 2010
if i want to purchase fixed assets by taking loan from bank, can you please furnish me journal entries from purchase to payment and their effect in b/s?
23 November 2010
fixed asset Dr
bank loan Cr.
loan will be on the liability side and asset will be on the asset side.
bank loan Cr.
loan will be on the liability side and asset will be on the asset side.
23 November 2010
JV
Furniture ( Asset) Dr
To Bank loan
Asset Liabilities
Furniture Bank Loan
Furniture ( Asset) Dr
To Bank loan
Asset Liabilities
Furniture Bank Loan
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