How to make joint loan taken journal entry in books of accounts
This query is : Resolved
12 September 2025
How to make joint loan taken journal entry in books of accounts against mortgage.
seprately in books of accounts.
seprately in books of accounts.
12 September 2025
Both parties must maintain separate Mortgage Loan accounts and record only their shares.
When the amount is received from the bank as a joint loan:
In both (or each) party’s books:
Debit: Bank Account (for the share received)
Credit: Loan (Mortgage Loan) Account (for the same amount)
When the amount is received from the bank as a joint loan:
In both (or each) party’s books:
Debit: Bank Account (for the share received)
Credit: Loan (Mortgage Loan) Account (for the same amount)
19 September 2025
Good Luck...
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
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- Eway bill for machinery reparing
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Registration as Authorised Representative of minor
- Change the gender in the registration of icai
- Lift replacement entries in housing society
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
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
