banner_ad

What is the entry for interest due on loan from directors?

Bcom 2219 views 7 replies

What is the entry for interest due on loan from directors?

IS it :

Interest due

to loan from directors?

Replies (7)

it's Interest a/c Dr. to Laon A/c

Its like one and the same thing.

 

Interest Accrued A/c---Dr.

To Loan /Loan from Director's A/c

Sunali ..may i knw why u debited interest Accrued ...wat's the reason behind that..plz explain by referring3  Golden rules of Debit & Credit

Originally posted by : sahil singla

Sunali ..may i knw why u debited interest Accrued ...wat's the reason behind that..plz explain by referring3  Golden rules of Debit & Credit

Thanks for reminding me the Golden rules Sahil. It was just by mistake that I wrote 'ACCRUED'. correcting myself. here it goes:

 

 

Interest A/c---Dr.

To Loan /Loan from Director's A/c



P.S. To Err is Human..:-)

thanks to u sunali..i thought i forgot the rules at this stage of CA...that's why i asked u !!

should i take interest due a/c under loans& advances or any other head. I have to pass this enty in tally.

if the interest is accrued but not due then,under loans & advances but if interest is accrued & due then take it under other liabilities


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details