Query regarding loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 June 2013
if a person does not have an a/c with bank say central bank but he is taking loan from that bank then what will be the journal entry for that?will it be
bank a/c dr
to loan taken
bank a/c dr
to loan taken
CMA Ramesh Krishnan
(Expert)
05 June 2013
How the loan disbursement happened, whether cash or cheque. incase cheque you need to open the bank a/c and deposit for clearance the entry will be
Dr: Bank Cr: Loan a/c
incase cash disbursement
Dr:Cash Cr: Loan a/c
but no bank will disburse the loan amount as cash
Dr: Bank Cr: Loan a/c
incase cash disbursement
Dr:Cash Cr: Loan a/c
but no bank will disburse the loan amount as cash
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Ito add credit side of bank
- GSTR9 Annual Return
- Employee secondment
- Rent agreement of House of deceased person
- LLP audit and disclosure
- Import of Capital Machine
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Gift to nri relatives resides in usa
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
