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(Querist)
23 November 2010 if i want to purchase fixed assets by taking loan from bank, can you please furnish me journal entries from purchase to payment and their effect in b/s?
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krishna kumar

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krishna kumar (Expert)
23 November 2010 fixed asset Dr
bank loan Cr.

loan will be on the liability side and asset will be on the asset side.
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CA.ViVeK M ACA

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CA.ViVeK M ACA (Expert)
23 November 2010 JV

Furniture ( Asset) Dr

To Bank loan

Asset Liabilities

Furniture Bank Loan
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