Accountancy, asked by mohanpahva3359, 8 months ago

Treatment of loan in final account??

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Answered by Anonymous

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★ FINAL ACCOUNT : Interest on loan, Investment & Depreciation

Amount payable towards interest on loan is an expense for the business. Adjustment: Provide for interest on bank loan outstanding. ii) on the liability side of the Balance sheet by way of addition to the particular loan account.

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