hi Sir
i seen my friend Balance sheet.. he shown a Agriculture loan Rs.90,000/-
but
he is not shown Agriculture land in B/s.
is it right? or offense?
please explain sir
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How to shown in balance sheet agriculture loan
Replies (4)
It is not necessary that the loan was used for purchsing agricultural land, maybe the loan amount is still shown in cash or bank balance or the said party may have some other assets on which the loan amount was expended. Hope you got your answer.
agricultural loan need not be necessarily be given for purchase of agricultural land but is also given for growing crops. and it is also not necessary that loan is given only owners of agricultural land. there are situations where farmers agree to cultivate on someone else's land on sharing basis.
Dear Sir,
thank u for your guidelines
sir, my quastion is Agriculture Land in the name of party but he is not shown in B/s.
and
Loan on Agriculture land Rs.90,000/- showing in B/s.(Bank Loan)
explain sir
well it is a mistake then.. it should be mentioned in his personal balance sheet.
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