Our company has received a subsidy of 611,869 Rs Ruppe for buying embroidery machines, which is reduced from the loan principal, how to do its accounting entry?
6 Replies
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 24 June 2022
Loan A/c Dr
To Machine A/c
To Machine A/c
jayprakash mauriya
(22 Points)
Replied 25 June 2022
You mean with this entry the loan principal which will be deducted from the machinery asset, also the principal and also the value of the machinery?
Loan a/c Dr.
611869
To Macinery A/c Cr.
Shikha Goyal
(20 Points)
Replied 17 August 2022
Can you please tell me from where you applied for subsidy...as I have to apply for my new business registered under name
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 17 August 2022
There are various schemes.
Haresh
(Profession)
(37 Points)
Replied 14 September 2024
i Purchas eplant and machinery in the financial year 2021-22 and Subsidy received in Financial Year 2023-24, What is the Accounting Treatment ?
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