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