Interested to Buy Any Domain ? << Click Here >> for more details...
what is the journal entry for payment of interest for loans.?
- 4 Answers
- 4820 Views
- Alpha Solutions, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
INTEREST ON LOAN A/C DR. XXXX
TO LOAN PAYABLE XXXX
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / raghu.v
While paying the interest on loans :-
Case :1
Interest a/c Dr
Loan A/c Cr
Case :2
Interest a/c Dr
Cash/Bank A/c Cr
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / eggsy
when it becomes due
Dr Interest on loan
Cr Loan Payable
When it is paid
Dr Loan payable
Cr Bank
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / ragini
Interest on loan a/c Dr. xxxx
To loan payable xxxx
| Is This Answer Correct ? | 1 Yes | 1 No |
Why don't show the opening & closing stock in Trial Balance.
sold some office equipment of rs 1,300 (proceeds beingreceived as rs 700 by cheque and balance in cash) and paid the cheque into his private bank . what will be the journal entry please give answer when you sure about it thanks
If I need Finance from the Bank I need to give the CMA Format date, Can somebody help giving me this format ??
What is the difference between Bank transfer and Cheques in SAP.
Manoj & Mahavir joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Manoj 90000 Withdrawals of Mahavir 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
journal
WHAT IS THE ACCOUNT PAYBLE
Paid-up capital ?
Account for letter of credit in the books?
in how many days employees dues should be paid.
What is aggregate Liabilities ?
0 Answers Bangladesh Securities and Exchange Commission BSEC,
Our company is in manufacturing stage and we had paid advance payment to several suppliers for some construction purposes. As manufacturing stage I want to treat it as Capital work in progress.So kindly advise how can we pass the entries for the same.
1 Answers Reflective Aluminium Glass,
Audit 
