what is the journal entry for payment of interest for loans.?

Answer Posted / ragini

Interest on loan a/c Dr. xxxx
To loan payable xxxx

Is This Answer Correct ?    1 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Knowing what you know now, walk me through what you would do differently to drive even more success?

617


a person have to buy 2kg items out of 4 differnt price tag item i.e potatoo rs. 10 kg, onion rs. 5 kg , radish rs. 1 kg, and chilli rs. 1 kg in rs 10 how can he do

885


Tell me how many types of business transactions are there in accounting?

608


what is the minimum & maximum amount paid by company per day

1683


how to pass journal entries for reverse tax on input tax paid

2162






My question is on Opening & Closing Stock Suppose Closing stock of 2014-15 is Rs 30 lakhs & Also we filed return & ROC too for 2014-15. Opening stock for 2015-16 should be Rs 30 lakhs but we found that some purchase for feb & March 2015 Stock has been entered in tally Its taken directly to purchase split of stock not made & in sales to same of 2 lakhs no split of stock is shown. Those stock need to make changes in 2015-16 what was the process ? And what will be adjustment entry ?

1178


GOODS LOST BY FIRE 100 RS, INSURANCE MONY RECEIVED 120,40 PENDING FOR FINAL SETTLEMENT- Journal Entry

1793


What is fbt (fringe benefit tax)?

663


Define executive accounting?

765


Which forms in use in service Tax, Excise duty and Vat for the return.

1650


what are cost accounting and its applications?

657


Capital reserve is - a) real account b) nominal account c) personal account d) none of them

486


Explain what qualities and skills make an account manager successful?

647


What are mis reports and do you prepare it?

625


PROVIDENT FUND TO BE CALCULATED ON BASIC AFTER DEDUCTION OF ABSENTS (LOP)

1573