housing loan taken from tata capital housing finance ltd.,how can entry make with interest with sanction amount and documentation charges
Answer Posted / prasad
Example 1 lakh housing loan,Document charges 2000
1.Housing loan a/c Dr 1,00,000
To Tata capital finance ltd 1,00,000
2.Document charges Dr 2000
To Housing loan 2000
(or)
Housing loan a/c Dr 98000
Document charges Dr 2000
To Tata capital finance ltd 1,00,000
then 1st Instalment repayment
3.Tata capital finance ltd Dr 6,000 (Principle amount)
Interest on housing loan Dr 4,000 (Interest)
To Bank a/c 10,000
Rest of Instalment repayment also same entry but principle and interest amount will be change.
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
What is contract accounting?
What is the process of VAT & CST Registration?
If income and expense both are equal then what it depicts
A sample book on interviews is ready for free circulation with 7 chapters i.e Journal entries helpful for various occassions,Terminology,Abbreviations,Test your terminology,Multiple answers, Fill in blanks and Income tax send your requisition for Free Book Immediately to satyaki_raju@yahoo.co.in
what is an advance against expenses
what is waybill key number & how can it be issue?
distinguish between Bill of Exchange and Promissory Note
Difference between nonoperating expentiture and non cash expenditure
Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
what is the entry for goods sent from one factory to another under inter branch transfer sale of the same compny and what should be the valuation for this purpose?
what is Ratio Analysis ?
Expand----------CMST
During Cutover Activities of New SAP Implementing Company what we have upload for Closed Fiscal year (that means Legasy to SAP ) Balance sheet or Trial Balance , What is the difference of the Both?
PO Amount is 100000 Jv is Purpose A/c To Party A/c First payment is 10000 TDs is 1000 What is the Payment enter in tally
what is non stock?