Loan aganist fixed deposit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

08 October 2012 sir our company have Fixed deposit with bank last month we received credit from bank towards loan aganist Fixed deposit please tellme accounting treatment

CA Kishore Tallam

CA Kishore Tallam (Expert)
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09 October 2012 Nothing specific accounting treatment to it.
For Loan:
Bank A/c Dr
To Loan A/c
In financials, you need to disclose that FD has been lodged as security for loan availed.

Querist : Anonymous

Querist : Anonymous (Querist)

09 October 2012 thank you sir

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