Interest payable on unsecure loan
This query is : Resolved
01 September 2012
Dear sir
Interest payable on unsecured loan amount where to shown whether indirect expenses or current liabilities
please tell me
Regards
Ramesha.m
Interest payable on unsecured loan amount where to shown whether indirect expenses or current liabilities
please tell me
Regards
Ramesha.m
01 September 2012
Interest Payable is Expenses or Liability?
Confirm.
Entry is
Interest Exp dr. (ID Exp.)
to Int Payable Account. (Current Liabilies)
Confirm.
Entry is
Interest Exp dr. (ID Exp.)
to Int Payable Account. (Current Liabilies)
Message likes :
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01 September 2012
Dear sir
this is expenses
interest exp account debit
interest payable credit
so i understood
Thanks for your valuable information
Regards
Ramesha.m
this is expenses
interest exp account debit
interest payable credit
so i understood
Thanks for your valuable information
Regards
Ramesha.m
01 September 2012
I disagree CA ayush
Interest is expense but it is payable to any person firm or body corporate
therefore entry would be
Interest A/c.......DR
To Party to Whom Interest is paid...CR
it will be directly added to the Liabilities section under Unsecured Loans
Interest is expense but it is payable to any person firm or body corporate
therefore entry would be
Interest A/c.......DR
To Party to Whom Interest is paid...CR
it will be directly added to the Liabilities section under Unsecured Loans
01 September 2012
No Need.
Its Added to Ledger Only When U R Not Paying Interest, That Will Going to Add in Principle Amount.
If U R Going to Pay it in Within One Year, Then It Should Be Marked as Current Liability Only.
Its Added to Ledger Only When U R Not Paying Interest, That Will Going to Add in Principle Amount.
If U R Going to Pay it in Within One Year, Then It Should Be Marked as Current Liability Only.
01 September 2012
he already said that it is Interest payable on unsecured loan
01 September 2012
He Said Its Payable, But Not Duration.
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