17 July 2013
Hi, I have two queries if someone can answer them. I have taken a loan of 8 lacs from a friend and have done a down payment of 10.54 lacs for a house. My queries are as follows. 1) I know I have to mention the 8 lac loan under liabilities in my balancesheet, but do I need it in my capital account. 2) if I do not need to mention it in my capital account than there would be a discripancies of 2.54 lacs in my capital account.