vehicle loan

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406 Points Posted on 23 February 2019
vehicle loan is payable in 5 years. every month instalment is 5k+.

now my question is "is this vehicle loan a current liability or a non current liability?
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On 23 February 2019 at 12:52 Report
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Chartered Accountant
12739 Points Posted on 23 February 2019

CURRENT LIABILITY RS 5,000 /-

AND NON CURRENT LIABILITY RS 2,95,000  /-

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On 23 February 2019 at 13:14
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406 Points Posted on 23 February 2019
so only one month liability will be treated as current liability and remaining amount will be treated as non current liability.

am I right?
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On 23 February 2019 at 13:21
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Chartered Accountant
12739 Points Posted on 23 February 2019

YA

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On 23 February 2019 at 13:54
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Student
7053 Points Posted on 24 February 2019
Vehicle Loan will be treated as a Non Current liability
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On 24 February 2019 at 16:28

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