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Finalisation of balance sheet

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Querist : Anonymous (Querist)
18 April 2013 loan in 600000 loan paid during the year 200000 balance 300000 whether 200000 amount shows in p&l and where
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CA Rohin Arora

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CA Rohin Arora (Expert)
18 April 2013 Loan Balance: 600000
Loan paid: 200000
Balance: 400000(300000????????)


The 200000 has to be passed through Cash/bank account and not Through Profit and loss. Dr would be your loan Account and Credit will be Cash or bank.

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