Disclosure as per revised schedule vi

Hi friends

Please solve query of mine

A secured car loan of Rs 20 lac was obtained on 31.12.2012 on which interest payable was Rs. 296800. The installments were payable in 36 monthly installments of Rs 63800 each. My query is how the entries will be made in the books and how the loan and interest shall be presented in financial statements as per revised schedule vi for the year ended 31.3.2013?

 

Thanks in advance

Replies (2)

as per revised schedule vi it was shown under d head loang term loans as both are long term 

 

As per revised Schedule Vi 

As on balance sheet date 31--03-13

Under Current Liabilities Head

1.Secured loan repayable within 12 months   =  principal amounts among 12 monthly installments

                                                                                    i.e., (Rs 63800*12-interest protion of installment)

2. Interest on loan payable = interest portion of the installment payable within 31-3-13 to 31-3-14

 

The remaining balance of the Secured Loan to be shown under Non-current Liabilities head as on balance date 31-3-13

Thanks

 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 01 October 2026
Articled Assistant

KPSN & Associates LLP

Chennai

CA Inter

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
14 October 2026
Asst. Manager/Dy Manager (Costing)

manufacturing

Pune

CMA

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 07 October 2026
Article assistant

S.K.Bajpai & Co.

Noida

B.Com

View Details
Company
ARTICLESHIP 30 September 2026
CA Article Assistant

CA Suraj Garg & Associates

New Delhi

CA Final

View Details