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Entry in balance sheet for loan taken on fixed deposit


Neeraj Desai (Accountant)     01 August 2017

Neeraj Desai
Accountant 
 50 points

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A firm has a Fixed Deposit of Rs 20,00,000.00, on which they have taken a loan of Rs 16,00,000.00

In the Balance Sheet, do we have to show

Asset of 20,00,000.00 and Liability of 16,00,000.00, or

Asset of 4,00,000.00 and Liabilty of 16,00,000.00 (since 16,00,000.00 loan is taken and is no longer an asset) 

Karan Jain   01 August 2017

Karan Jain

 3 likes  43 points

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Asset of Rs. 20,00,000 and liability of Rs. 16,00,000 will be shown in the Balance Sheet

 

avater

SUMIT GADHAVE (ACCOUNTANT)     20 July 2019

SUMIT GADHAVE
ACCOUNTANT 
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Sir, But what about interest paid on such deposits  or received  against the same how it will be accounted


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