Unsecured loan payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 August 2013
Sir
Given below is the balance sheet of an individual for f.y 2012-13
Capital
Bal b/f 2833500
Intt.Sb A/c -809
Intt on U/L -86950
Intt on ppf - 15200
Assests
Jewellery 500000
Bank Balance 2350
U/L 1090500
Now please let me know if i received Rs 500000/- under U/L ( unsecured Loan ) Than what amount will be considered in assests side and what tretment will be done with TRs 500000/- Lac
Please explain
Thanks 7 Rgds
Mukesh
Given below is the balance sheet of an individual for f.y 2012-13
Capital
Bal b/f 2833500
Intt.Sb A/c -809
Intt on U/L -86950
Intt on ppf - 15200
Assests
Jewellery 500000
Bank Balance 2350
U/L 1090500
Now please let me know if i received Rs 500000/- under U/L ( unsecured Loan ) Than what amount will be considered in assests side and what tretment will be done with TRs 500000/- Lac
Please explain
Thanks 7 Rgds
Mukesh
14 August 2013
Rs. 5 lakhs will be shown as unsecured loan on the liability side.
Correspondingly bank balance will increase on the asset side.
Correspondingly bank balance will increase on the asset side.
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