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As16

Accountancy

Loan taken for 4yrs 12% rs10lac 1/4/2021 = expended 30lac 1/9/2021 = expended 40lac Apr to aug interest on 40lac will be send to pl for general borrowing, for specific borrowing the same is captitalise, why

Sushmita Chowdhury

CA Inter

★ 715

21-Feb-24 14:41

126

Answers (2)

Correction = not 10lac, 100lac

Thread Starter

Sushmita Chowdhury

CA Inter

★ 715

21-Feb-24 15:08

Specific borrowing is for the specific purpose and hence capitalised.

CA Suraj Lakhotia

Admin

21-Feb-24 17:30

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