What is impact in both side of balance sheet if we pay 10% advance against machinery?
Pls. mention both side heads which effected?
2 Replies
rajaguru u
(Deputy Manager - Accounts)
(40 Points)
Replied 18 September 2008
In asset side, Machinery advance under the head in Loans and Advances mentioned in sub head in the name of Advances for Capital Goods.
In Liability side, the payment amount shown in Bank Loan account.
Pradeep Sharma
(business)
(48 Points)
Replied 18 September 2008
| Originally posted by :rajaguru u | ||
| " | In asset side, Machinery advance under the head in Loans and Advances mentioned in sub head in the name of Advances for Capital Goods. In Liability side, the payment amount shown in Bank Loan account. |
" |
sir is it shown in s.creditors head in liability side
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