Loan accounting
This query is : Open
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
(Expert)
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
Cr.loan a/c 9,70,000
Cr.(from where you made payment)a/c 3,43,000
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