Balance sheet preparation

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kunal (Querist)
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06 July 2013 opening unsecured loan = Rs 78,000
addition to above loan = Rs. 11,00,000
during the year

closing balance of loan = Rs 11,78,000

sir please tell what is the nature of loan?
short term or long term..

CA Kapil Verma

CA Kapil Verma (Expert)
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06 July 2013 it depend on the situation, if the management say that it will repay within one year then short term otherwise long term.

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Hemant Kumar

Hemant Kumar (Expert)
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06 July 2013 Agree with expert.

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Ganeshbabu K

Ganeshbabu K (Expert)
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06 July 2013 Take repayment shedule of loan and treat it as short term liability which is expected to arise in next year and remaining portion can be fixed at NON-CURRENT LIABILITIES