Treatment of subsidy
This query is : Resolved
17 November 2014
what should be the treatment for if subsidy is already received by bank but not credited in company's A/C yet and interest for loan sanctioned is debited, deducting the subsidy amount from the entire loan.
please suggest entire treatment.
thanks.
please suggest entire treatment.
thanks.
17 November 2014
It will depend upon what type of subsidy it is.
Show subsidy separately under liability. Depending upon its nature, credit it to Capital account in case of proprietorship or partnership, and in case of company classify it under reserves and surplus
Show subsidy separately under liability. Depending upon its nature, credit it to Capital account in case of proprietorship or partnership, and in case of company classify it under reserves and surplus
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