Capital Subsidy Accounting,,,
This query is : Resolved
Quick Summary
14 March 2021
Dear Experts, Capital subsidy has been received (2017-2018) by a firm. To purchase the (Embroidery Machinery)asset the firm has taken term loan from a bank. Now the bank has received the capital subsidy Which bank is showing in the Subsidiary Loan Saving Account, there is no change in the O / S terms also, how to do it in the entry book?
Is this entry correct for me?
Term loan A/c Dr. 700000
To Subsuidy A/c. 700000
Is this entry correct for me?
Term loan A/c Dr. 700000
To Subsuidy A/c. 700000
14 March 2021
Credit the subsidy to machinery account.
15 March 2021
You mean ?
Subsidy a/c Cr. 700000
machinery a/c dr. 700000
Subsidy a/c Cr. 700000
machinery a/c dr. 700000
16 March 2021
No, credit machinery with subsidy received.
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
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- Journal entry of busniess expenses
- GST Rate for Catering Services
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Cash balance limit and property purchases limit
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- FCRA 6 E- Intimation
- 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
