Expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 February 2012
can a car's emi be treated as an expense of a limited company..??
CMA Ramesh Krishnan
(Expert)
28 February 2012
Car EMI paid is loan repayment need to be adjusted with Car loan ledger.
29 February 2012
The EMI shall be bifurcated into two parts. Principal and interest. This can be done from the loan statement.
The principal repayment shall be reduced from the loan account balance and the interest repayment shall be treated as an expense and charged to P&L Account.
The principal repayment shall be reduced from the loan account balance and the interest repayment shall be treated as an expense and charged to P&L Account.
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