Home loan
This query is : Resolved
06 August 2013
I have purchase a home on bank loan, what will be accounting entry in my personal book for bank loan & interest?and What amount show in balance sheet.
06 August 2013
1. Building A/c Dr
To Bank Loan
At the time of repayment:
Bank Loan A/c Dr
Interest on Bank Loan Dr
To Bank
Interest on bank loan will be an expense and will be transferred to P&L A/c
2. Balance Sheet:
Building under Fixed Assets on the asset side
Bank Loan under Secured Loan on the liabilities side
To Bank Loan
At the time of repayment:
Bank Loan A/c Dr
Interest on Bank Loan Dr
To Bank
Interest on bank loan will be an expense and will be transferred to P&L A/c
2. Balance Sheet:
Building under Fixed Assets on the asset side
Bank Loan under Secured Loan on the liabilities side
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
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- What is provisional receipt number for generation of form 16A
- Scrutiny assessments u/s 143(2) for AY 25-26
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
