Entry for the settlement of loans?

Answer Posted / veena v

Dr.Loan a/c
Dr.Interest on loan a/c
Cr.Bank a/c

Is This Answer Correct ?    24 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what are responsibilities of an accountant in a company?

1607


Ram retired from partnership. The partners with mutual consent agreed to put the capital balance as on the date of retirement as loan to the firm @ 18% pa. The credit balance to his capital account was Rs 325000/- Pass necessary entry

1545


I work in a semi govt society. We purchased a flag for celebrating independence day in office premises . Plz tell me under what head / ledger of exp it comes

1038


Hi Im Arun D. I m short listed for Karnatka bank interview. Can anybody share ur experiences regarding Bank interview of karnatka bank which was held on dec for Clerical post. Please help me I f u can. thanx in advance

1502


HOW TO CALCULATE ESI,P.F,VAT,I.TAX,EXCISE,C.S.T.REFUND CLAIM, E.T.C. IF YOU KNOW ANY OF THIS PLASE REPLY

8672






Fiscal year variant F1 has 6 posting periods and fiscal year variant F2 has 4 posting periods. The posting have different start and ending dates.assign posting period variant F1 is assigned to leading ledger (0L) and F2 is assigned to the non-leading ledger(N1). You get an error message when making a posting in the non-leading ledger.?( any 1 answer) • The posting period variant of the non-leading ledger and the leading are different • The fiscal year variant of the non-leading ledger and the leading ledger are different • The posting is being made in a special period, but both variants are examples of a shortened fiscal year • The posting period for the non leading ledger group”N1” is closed

1460


• What is depreciation and the method?

1591


What is the rule on a school who will be handled by anither school? How do I calculate the royalty per year to the school who will supervise a new school

1553


WHAT IS THE DIFFERENCE BETWEEN PUBLIC COMPANY AND PRIVATE COMPANY? MUTUAL FUNDS? GOOD WILL? ABOUT YOUR PROJECTS?

1643


DIFFERENCE BETWEEN THE DEPRICIATION AND IMPOSEMENT? DIFFERENCE BETWEEN THE CAPITAL LEASE AND FINANCE LEASE?

1629


Ram, the proprietor brought additional capital of Rs 75000/- by pledging his wifes gold.pass entry

1775


What is Summarising

1863


What is contract accounting?

1847


Hi, I am doing Data Entry jobs in Accounts. please let me know "How to maintain Medical stores accounts"?

1744


Do you need an income statement if you do part time contract work at home?

1681