Interest

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student
29 Points Posted on 07 May 2012

Hi to Everyone

First of all i am thankful to this site for providing better information to Students.

Recently i came to a problem in accounts. i saw in one Of the return that interest on Term loans is taken as assest. is it possible. if so how to proceed

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On 07 May 2012 at 17:12 Report
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CA Student
148 Points Posted on 07 May 2012
In this case the company may have paid installment including interest in advance on such loan so the installment and interest is treated as an asset. while doing sum you may be ignoring the repayment of loan and considering only interest.
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On 07 May 2012 at 18:19

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