How to make joint loan taken journal entry in books of accounts
This query is : Resolved
Quick Summary
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
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Section 50-fixed asset-->building ceases to exist
- Tds on commission charges
- Regarding Applicability of Tax Audit u/s 44AB
- TDS on TRUST
- Consolidated financials
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
