Accounting entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 June 2013
i have a partnership firm a retail shop.
i got a loan for showroom purchase.& now i start my showroom & starting to pay EMI every month. Banker debited interest.
now query is...
can i show loan interest as an indirect expenses or capitalized it...?
what's a rule..?
i got a loan for showroom purchase.& now i start my showroom & starting to pay EMI every month. Banker debited interest.
now query is...
can i show loan interest as an indirect expenses or capitalized it...?
what's a rule..?
Rupesh Jain
(Expert)
29 June 2013
loan a/c
intt on loan a/c
to bank a/c
intt on loan debit to exp of p/l of showroom
intt on loan a/c
to bank a/c
intt on loan debit to exp of p/l of showroom
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