Home loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 October 2011
how to show home loan in balance sheet. house is self occupied.
Last year
Value of the House is Rs. 8 Lakhs
Home loan against it Rs. 4.5 Lakhs
This year
Value of the House is still (No depreciation bcoz self occupied) Rs. 8 Lakhs
Home loan against it Rs. 3.5 Lakhs
Now my question is that how can tally the balance sheet.
Last year
Value of the House is Rs. 8 Lakhs
Home loan against it Rs. 4.5 Lakhs
This year
Value of the House is still (No depreciation bcoz self occupied) Rs. 8 Lakhs
Home loan against it Rs. 3.5 Lakhs
Now my question is that how can tally the balance sheet.
13 October 2011
On assets side House Rs.8/- lac's, on liability side capital A/c(own funds)Rs.3.5/-lac's, Home loan Rs.4.5/-lac's.Next year asset side house Rs.8/-lac's, on liability side capital a/c Rs.4.5/-lac's , Home loan Rs.3.5/-lac's.
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