Our company has received a subsidy of 611,869 Rs Ruppe for buying embroidery machines, which is reduced from the loan principal, how to do its accounting entry?
jayprakash mauriya (22 Points)
24 June 2022Our company has received a subsidy of 611,869 Rs Ruppe for buying embroidery machines, which is reduced from the loan principal, how to do its accounting entry?
CA Rashmi Gandhi
(Chartered Accountant)
(86220 Points)
Replied 24 June 2022
jayprakash mauriya
(22 Points)
Replied 25 June 2022
You mean with this entry the loan principal which will be deducted from the machinery asset, also the principal and also the value of the machinery?
Loan a/c Dr.
611869
To Macinery A/c Cr.
Shikha Goyal
(20 Points)
Replied 17 August 2022
CA Rashmi Gandhi
(Chartered Accountant)
(86220 Points)
Replied 17 August 2022
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