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Average due date

Accountancy

In the 8th video i.e ADD IN CASE OF LOANS in that sum the average due date 1 1 14 which dass should give loan to kumar and sons but if it is so why will kumar and sons pay interest for previous years because the date of commencement will become 1 1 14

Prasanth Kumar

CA Inter

★ 13K+

04-Oct-20 08:25

507

Answers (4)

It is not date of commencement. It is a reference date for computation of interest.

CA Suraj Lakhotia

Admin

04-Oct-20 12:15

CA Suraj Lakhotia Admin

It is not date of commencement. It is a reference date for computation of interest.

Once explain is 1 1 14 the date kumar and sons should pay the amount or dass should give the amount as a loan

Thread Starter

Prasanth Kumar

CA Inter

★ 13K+

04-Oct-20 12:36

If loan is given on that date, no interest is payable.

CA Suraj Lakhotia

Admin

04-Oct-20 12:38

CA Suraj Lakhotia Admin

If loan is given on that date, no interest is payable.

Ok sir

Thread Starter

Prasanth Kumar

CA Inter

★ 13K+

04-Oct-20 12:41