Repayment of unsecured loan

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 August 2013 Sir

I given Rs 1000000/- lac as unsecured loan to xyz and getting interest on it . in a y 2013-14 , xyz return me Rs 400000/- , Now Please tell me when i prepare my individual balance sheet where i mentioned this amount at Assests side or liabilities side,

Thanks & rgds

Mukesh Kumar

CA UMESH DULAL

CA UMESH DULAL (Expert)
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14 August 2013 Assets side
under loan and advances

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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14 August 2013 Rs. 1 lakh will be shown as an asset. Repayment of Rs. 40,000 shall be reduced from the amount of Rs. 1 lakh and the balance of Rs. 60,000 shall be shown as an asset.

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