Interested to Buy Any Domain ? << Click Here >> for more details...
Hello,
I am trying to record the journal entries for taking a loan
and refinancing it into two new loans. How would I show the
closing loan and the opening of two new loans?
Thank you for your help!
- 10 Answers
- 45396 Views
- I also Faced
- E-Mail Answers
Answer Posted / ca.bharat agarwal
FOR TAKING THE LOAN FROM BANK ENTRY WOULD BE :-
BANK A/C DR.
TO BANK LOAN A/C
AND REFINENCING IT IN TO NEW TWO LOAN :-
OLD BAMK LOAN A/C DR.
TO NEW BANK LOAN 1 A/C
TO NEW BANK LOAN 2 A/C
ONLY TWO NEW LOAN WILL BE SHOWN IN THE LIABILITIES SIDE OF
B/S.
| Is This Answer Correct ? | 27 Yes | 5 No |
Post New Answer View All Answers
can i get exact salary of clerk in SBI. and i want to know about promotion details .....
Expand---------PSRT
What is Merger?
Can I check my Vantage credit score range online?
state and explain THREE types of situation to which accounting concept might be applicable
Short Answer on ______________House Rent allowance
while passing a journal entry we rite dr. for the a/c to be debited but why don't we write cr. for the a/c which is credited and instead write 'TO'??
What is Insider Trading ?
Is TDS applicable to Voice Over IP(VOIP) service to an India VOIP service provider? please provide the related acts and case studies.
Whether the TIN and CST no. remain same for a firm in M.P. state. If a firm ask for CST but having only TIN no. is it correct to entertain his invoice?
What are events occuring after the balancesheet date?
Expand-------ACNS
duties of bank finance manager
Short Answer on ________Adjusting Entries
why did rbi hiked repo and reverse ratio and how it will effect the market
