Maintaining balancesheet
This query is : Resolved
17 July 2013
Hi, I have two queries if someone can answer them. I have taken a loan of 8 lacs from a friend and have done a down payment of 10.54 lacs for a house. My queries are as follows. 1) I know I have to mention the 8 lac loan under liabilities in my balancesheet, but do I need it in my capital account. 2) if I do not need to mention it in my capital account than there would be a discripancies of 2.54 lacs in my capital account.
21 July 2013
Incase you have paid Rs.2.54 lakhs from your savings or earnings, need to show as capital account only.
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