Loans

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 May 2014 Hi,
I am working in a manufacturing unit as an accountant. The owner has three companies, A B and C. Company A has given loan to company C. I wanted to know whether the entry in the books of A will be showed as unsecured loan to C? and in the books of C will be loans and advances?

Thank You

Vishnu Saboo

Vishnu Saboo (Expert)
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13 May 2014 in my opinion this must be shown under unsecured loans to/from related party.

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2014 Thank You for your reply

Vishnu Saboo

Vishnu Saboo (Expert)
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04 June 2014 my pleasure to help you.

Querist : Anonymous

Querist : Anonymous (Querist)

05 June 2014 what will be the account in the books of C?

Vishnu Saboo

Vishnu Saboo (Expert)
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05 June 2014 for C this is liability, so he will show it in Loans/Advances from related parties.

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