How to passed adjustment entries for un secured loans
This query is : Resolved
29 December 2020
A partner ship firm unsecured loans name Mr.A Rs:1 lacs and Name Mr.B Rs: 1 lacs outstanding balance as per books 31-03-2020.but a partnership firm Name Mr.A Rs:1 lacs and Name B 1 lacs advance income tax paid through on firm bank account.
question:
a partnership firm how to passed unsecured loans written off account entries in firm books.
question:
a partnership firm how to passed unsecured loans written off account entries in firm books.
04 January 2021
The journal should be as below:
Loan A/C - Dr.
Bank/Advance Income Tax - Cr.
Thanks
Loan A/C - Dr.
Bank/Advance Income Tax - Cr.
Thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS DEMAND.
- TDS-Fixed assets
- 139(4) for ITR-5- audit
- Joint Account Closure
- RCM PAID ON RENT IN RESTAURANT BUSINESS @ GST RATE 5%
- Registartion of trust
- TDS can We Adjust 194C Amount to 194J
- Regarding Claim of ITC of FY 2020-21
- Mentioned xyz as employer name instead of xyz LLC in ITR
- Reversal of unutilized ITC can be paid through ITC
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
