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What is the treatment of loan
and its interest in trading
profit and loss ,balance sheet

Question Posted / kobs4748

Answers were Sorted based on User's Feedback



What is the treatment of loan and its interest in trading profit and loss ,balance sheet..

Answer / sneha

TREATMENT OF LOAN IF IS TAKEN IT COMES UNDER LIABILITIES
SIDE OF BALANCE SHEET .IF LOAN IS GIVEN IT COMES UNDER THE
ASSETS SIDE OF HEADING "LOANS &ADVANCES".
IF INTEREST IS PAID IT IS DEBITED TO P/L A/C,IF INTEREST
IS RECEIVED IT IS CREDITED TO P/L A/C.

Is This Answer Correct ?    12 Yes 1 No

What is the treatment of loan and its interest in trading profit and loss ,balance sheet..

Answer / manoj

loan is go to balance sheet in liabilities side
and interest received go on profit and loss account in Dr. side
if interest is paid than Cr. side of p&l a/c

Is This Answer Correct ?    10 Yes 8 No

What is the treatment of loan and its interest in trading profit and loss ,balance sheet..

Answer / sawpnil gaikwad

at the rate

Is This Answer Correct ?    1 Yes 6 No

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