sonam (STUDENT) (36 Points)
21 July 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 21 July 2021
Unsecured loans can be long term as well like personal loans.
sonam
(STUDENT)
(36 Points)
Replied 21 July 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 21 July 2021
You can write doubts on quora and you will get the same. I don’t understand quora accounting is students and they ask analysis. It is bit different here and professional. That looks like an school blog. No One needs types of loans, bonds, debentures, shares, derivatives in an interview, they need valuations for managers. I don’t understand why there is an interview at all, when no me knows 100% or they did not cover many things. Is a human being not satisfied with what he knows and earn 100 grand per Annum? This looks foolish to me to search for answers online, but I don’t like to remember everything because I’m getting paid less. Controversy everywhere.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 21 July 2021
Yes, they calculate current liability and outstanding (non current liability) of debt. Can you please tell me, if there is anything related in the non current liabilities please?
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 21 July 2021
| Beginning | Interest | Payment | Ending |
|---|---|---|---|
| 500.00 | 30.00 | -187.05 | 342.95 |
| 342.95 | 20.58 | -187.05 | 176.47 |
| 176.47 | 10.59 | -187.05 | 0 |
| Account | Debit | Credit |
|---|---|---|
| Interest Expense | 30.00 | |
| Loan account | 157.05 | |
| Cash | 187.05 | |
| Total | 187.05 | 187.05 |
Bank a/c
To Non current liability
To Current Liability
| Account | Debit | Credit |
|---|---|---|
| Interest Expense | 20.58 | |
| Loan account | 166.47 | |
| Cash | 187.05 | |
| Total | 187.05 | 187.05 |
| Account | Debit | Credit |
|---|---|---|
| Interest Expense | 10.59 | |
| Loan account | 176.46 | |
| Cash | 187.05 | |
| Total | 187.05 | 187.05 |
Initially
By Bank 500
To Non Current Liability 500
by the year is end
By bank 500
By Interest expense 30
To Current payables 187.05
To non current liability 342. 95
when payment is made
By Payables 187.05
To Bank 187.05
next year opening balance balance
By Bank 342.95
By interest expense 20.58
To Current payables 187.05
To Non current liability 176.47
when payment is met for this year
By Current payables 187.05
To Bank 187.05
next year opening balance
By Bank 176.47
By Internet expense 10.59
To current payables 187.05
To non current liability 0
when payment is met, there is no balance. This is second method. I hope you got it.
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 21 July 2021
The journals are correct, you have to adjust the numbers because you pay 90₹ more towards interest. Sry typing in n mobile
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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