A PARTNERSHIP FIRM HAVE TAKEN LOAN FORM BANK THEN WHAT IS
THE ENTRY OF LOAN IN FIRMS ACCOUNT .
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Answer / anand singh bangari
in the books of firms a/c.
bank loan a/c. dr.
bank a/c.cr.
in the books of bank a/c.
firms loan a/c. dr.
bank a/c. cr.
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Answer / sandeep
Loan A/c Cr
Bank A/c Dr
Liability Always Credit and Current Assets Alays Debit
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / mohanj
Bank A/c Dr
to Loan a/c
loan is our liability so credit to the loan a/c.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / mudunoori
Mdhukar saab The Banker gave a loan to the firm then the
Banker will be credited and the bank current account will
be debited.How you think the partners account will be
credited. If you are correct then what will be loan
account. Dont be hasty in posting answer think well before
you answer
| Is This Answer Correct ? | 3 Yes | 1 No |
Anand Singh ji in both the books you credited Bank a/c how
it will be Pl think once
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