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Purchase of plot in joint name

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(Querist)
20 July 2009 A plot is purchased in joint name of husband and wife. Loan is also taken for plot in joint name of both. How the accounting treatment(Shown in Balance sheet)will be done for these transactions?

Please note that EMI chaque is isuued and being clearing every month from the bank account of Husband only.
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CMA Gul S

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CMA Gul S (Expert)
20 July 2009 It will be in the name of Husband, and the Accounting treatment will be in the Husband 's name

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