Loan accounting

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PRATIKSHA (Querist)
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03 February 2016 if we purchase a new property of Rs.13,13,000 and a loan is taken for the same of Rs.9,70,000 then how to account in the books. how much the asset side should be shown and liabilities in balance sheet ???

Ganeshbabu K

Ganeshbabu K (Expert)
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03 February 2016 Dr.Property a/c 13,13,000
Cr.loan a/c 9,70,000
Cr.(from where you made payment)a/c 3,43,000

PRATIKSHA

PRATIKSHA (Querist)
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03 February 2016 payments are made through bank only...

PRATIKSHA

PRATIKSHA (Querist)
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03 February 2016 the payments are made through bank

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