Adjustment of Interest on loan
ASIF EQBAL • 16 July 2019
Loan Amount ₹594000
ROI 19.25%
LOAN PERIOD 4 YRS
NO OF PAYMENTS PER YEAR - 12
DATE OF LOAN - 18/03/2019
can Anyone explain the adjustment of interest on loan for the F. Y 2018-2019??
At what amount loan is recorded in B/S
THANK YOU
Menu
Adjustment of Interest on loan
Replies (3)
loan is given by company to individual.
you r asking from whose side??
that means company side or individual side??
what is monthly installment they are paying??
you r asking from whose side??
that means company side or individual side??
what is monthly installment they are paying??
am asking from the view point of individual... and
the monthly installment is 17840...
am question is.... whether intt on loan is recorded in P&L or not if recorded what is the amount
the monthly installment is 17840...
am question is.... whether intt on loan is recorded in P&L or not if recorded what is the amount
when the installment paid
Financial Instituation a/c dr 1000
to Bank a/c 1000
Interest entry
Interest A/c dr 100
to Financial Institution a/c
Principal outstanding will reflect in balance sheet
Interest will be recorded as indirect exp in p/l account
Principal and Interest classification you can get from Bank/ NBFC where you got the loan.
Recent Topics :
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
Related Topics :
CAclubindia
