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?
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Macinery subsidy entry
Replies (6)
Loan A/c Dr
To Machine A/c
To Machine A/c
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.
Yes you got it correct.
Can you please tell me from where you applied for subsidy...as I have to apply for my new business registered under name
There are various schemes.
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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