CC and Unsecured Loan
This query is : Resolved
05 April 2023
Dear Sir,
Please suggest we have cash Credit Limit in HDFC bank and some Unsecured loan from parties so in balance Sheet we have to show under Long Term Borrowings Or Short Term Borrowings
Please suggest we have cash Credit Limit in HDFC bank and some Unsecured loan from parties so in balance Sheet we have to show under Long Term Borrowings Or Short Term Borrowings
05 April 2023
CC is Short term liability.
If the unsecured loan is raised for a short term ( payable within one year) then the same will be reflected as Current liability in the balance sheet.
If on the other hand the same is payable over a period more than one year then it is classified as Term Liability or Long term liability.
If the unsecured loan is raised for a short term ( payable within one year) then the same will be reflected as Current liability in the balance sheet.
If on the other hand the same is payable over a period more than one year then it is classified as Term Liability or Long term liability.
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05 April 2023
Thank you very much Sir,
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05 April 2023
You are welcome.
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