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?
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?
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.
i Purchas eplant and machinery in the financial year 2021-22 and Subsidy received in Financial Year 2023-24, What is the Accounting Treatment ?
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