Jurnal for interest chrgd by bank-
Interest a/c dr
To bank
Bank is real a/c
Que is why bank is credit as d rule is
dr d reciever
- 3 Answers
- 4080 Views
- Wipro, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / yashwanth
In this case Bank is Charging us So Interest is Nominal A/c
Debit - All expenses & Lossses
For Bank - It is real A/c - Credit the Giver
We are giving some amount to bank as charges not recieving
| Is This Answer Correct ? | 8 Yes | 3 No |
Answer / n srinivas rao
As the Interest Expense charged by the Bank is an expense
and comes under Nominal Account. As per nominal
account "All expenses debit".
In this transaction Bank is not a personal account, it is a
Real account means it is as Asset to us and the Bank
charges are getting deducted from this Account. So As per
Real Account "What goes out Credit"
That is why the entry should be as follows
Interest exps A/C Debit
Bank A/C Crdit
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / barkhamittal01
interest charged by bank,its a expensive,we are not paying
direct.
so its a nominal a/c
| Is This Answer Correct ? | 2 Yes | 1 No |
formula for capital turnover ratio
Do you think there is any difference between inactive and dormant accounts?
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,
What are the methods used in different industries for labor and non-labor costs in Projects.
0 Answers Reliance, Tirupati Exim,
what is valuation code and valuation modifier in sap fico
Is the shadow balance present in bank account always credited or bank may reverse it as well?
Define the accounting entries for payments
What is meant by ERP
3 Answers QAZI Engineering, State Bank Of India SBI,
Subsidiary ledger and the benefit of making it, explain?
What is Fixed Assets? How many depreciation types are there? How to apply depreciation on assets in a year?
expenses incurred in the formation of the company are show in : 1)debit side in the profit and loss a/c 2)as an assets in balance sheet 3) as an liabiliies in balance sheet 4) credit side in profit and loss a/c
what is the nature of profit and loss approprition account.which entity prepare this.
Audit 
