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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 April 2012 SIR,
A COMPANY RECEIVED RS. 250000/ A LOAN FROM B COMPANY, TO GIVE LOAN TO ABC CO.,AND IN FINACIAL YEAR RS. 300000/- RECEIVED FROM ABC CO. INCLUDING INTEREST.STILL RS.50000 TO BE RECEIVED.
KINDLY INFORM ME THE ACCOUNTS ENTRY OF ALL EVENT.

Guest

Guest (Expert)

26 April 2012 1. Bank a/c dr 2.5L
to B a/c 2.5L
Being loan recd from B

2. ABC CO Dr 2.5L
to Bank A/c 2.5L
Being loan given to ABC CO

3. ABC CO Dr 0.5L
To interest A/c 0.5L
Being interest accrued

4. Bank A/c Dr 2.5L
To ABC CO 2.5L
Being amt recd

Querist : Anonymous

Querist : Anonymous (Querist)

26 April 2012 THANK U SIR, I HAVE DONE AS AS U SAID BUT I HAVE TO MAKE THE BALANCE SHEET AND GIVE THE SAME TO B. COMPANY. MY QUERY IS, B. CO. IS AS C.LIABILITY OR C.ASSETES. KINDLY INFORM ME THE , AND WHERE SHOULD I CITE THE INTEREST PART.

Guest

Guest (Expert)

26 April 2012 B will come under Unsecured Loan. C will come under Loans & Advances. INterest is booked as income and will come under laons & advances..

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