Loan accounting
This query is : Open
03 February 2016
if we purchase a new property of Rs.13,13,000 and a loan is taken for the same of Rs.9,70,000 then how to account in the books. how much the asset side should be shown and liabilities in balance sheet ???
03 February 2016
Dr.Property a/c 13,13,000
Cr.loan a/c 9,70,000
Cr.(from where you made payment)a/c 3,43,000
Cr.loan a/c 9,70,000
Cr.(from where you made payment)a/c 3,43,000
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