Bank CC right entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 January 2010
dear experts,
pls advice me to do entry in below case.
bank loan CC A/c
C.C taken Dr.125000
Interest Dr.11799
Process Fee Dr.688
Loan Amount Paid Rs.14874
Interest Paid Rs.8226
Process Fee Paid Rs.688
As per bank statement there is a dr. balance of Rs.113699
thanks in advance
pls advice me to do entry in below case.
bank loan CC A/c
C.C taken Dr.125000
Interest Dr.11799
Process Fee Dr.688
Loan Amount Paid Rs.14874
Interest Paid Rs.8226
Process Fee Paid Rs.688
As per bank statement there is a dr. balance of Rs.113699
thanks in advance
11 January 2010
When you take a new CC limit then there will be no new entry. When you will start transaction in this account, entries will like normal bank entries.
Entry for bank interest and processing fees:
Intt. on CC account Dr.
Bank Charges A/c Dr.
To Bank CC A/c
Loan Amount Paid:
Loan A/c Dr.
To Cash/Bank A/c
Intt.:
Intt. on loan A/c Dr.
Bank charges A/C Dr.
To LOan A/c
Entry for bank interest and processing fees:
Intt. on CC account Dr.
Bank Charges A/c Dr.
To Bank CC A/c
Loan Amount Paid:
Loan A/c Dr.
To Cash/Bank A/c
Intt.:
Intt. on loan A/c Dr.
Bank charges A/C Dr.
To LOan A/c
11 January 2010
entries will be as follows
bank/cash dr125000
to cc 125000
int 11799 dr
bank chg dr 688
to cc 12487
cc dr23788
to bank /cash 23788
cl bal as per above books of account of cc will come rs.113699
bank/cash dr125000
to cc 125000
int 11799 dr
bank chg dr 688
to cc 12487
cc dr23788
to bank /cash 23788
cl bal as per above books of account of cc will come rs.113699
11 January 2010
Mr. Jain ...........it is not mentioned that he has withdrawn money from CC account
further there is difference between CC account and loan account
CC is not a loan account, it is routine account so the deposit can't be said repayment.
further there is difference between CC account and loan account
CC is not a loan account, it is routine account so the deposit can't be said repayment.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- LIC maturity claim whether taxable
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- The TDS balance for March 26 shows a mismatch between the books and the portal; what should be done
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
