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
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.
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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