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
- 42396 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
what are the purpose for the preparation of cost centre ?
i am a mba fresher and i'm learning oracle finance.please give me ur valueble suggetions about my career in oracle finance? what r the requirements 2 get a good job in time?
what is article of association? what is memorandum of association?
whst is detailed information aboutaccounting standards 20to 29
You configured new asset accounting with three depreciation areas that post in real time. You need to do a partial scrapping to an asset in transaction type. How many document does the transaction create ?( any 1 answer) 1 3 4 6
plz send me the accounting questions and answers of bank of america.
1.explain the accounting concepts ? 2.what are the objectives of preparing a trail balance ?
What is Trade Recovery Estimate and how can we calculate it?
i AM CURRENTLY DOING B.COM. i INTEND TO PURSUE MY MASTERS AT USA IN ECONOMICS AND FINANCE OR ACCOUNTING...CAN U TELL ME THE CRITERIA AND WHICH EXAM DO I NEED TO QUALIFY FOR???
Short answer on Amalgamation
how to do the finalise of account? what is the step? why we need to do like that?
what is Calculation of Gross Profit Or Gross Loss?
fd redeem interest and principal entry in tally
how can i make configration relation with inflation in sap
differnce between the 4.7 & 6.0 versions?
