Forums

Back

Profit or loss pre and post inc.

Accountancy

If in this case if the loan was taken on 1st November instead of 1st September than will there be any change in distribution of interest in pre and post period and if yes then what will be the amt. Transferred to pre and post period

Harsh Mittal

CA Final

★ 1K+

12-May-22 13:36

418

Answers (7)

No.. change bcz there mentioned loan taken by "Company" that means always Post right!

Mahantesh Biradar

CA Final

★ 92K+

12-May-22 13:39

Mahantesh Biradar

No.. change bcz there mentioned loan taken by "Company" that means always Post right!

But then also remaining amt. Is transferred to pre inc. period

Thread Starter

Harsh Mittal

CA Final

★ 1K+

12-May-22 13:41

i.e the whole 1,25,000 isn't transferred to post period

Thread Starter

Harsh Mittal

CA Final

★ 1K+

12-May-22 13:41

Any expenses or income directly belongs company then transferred post period column

Mahantesh Biradar

CA Final

★ 92K+

12-May-22 13:43

Entire interest would be post incorporation.

CA Suraj Lakhotia

Admin

12-May-22 14:02

Mahantesh Biradar

No.. change bcz there mentioned loan taken by "Company" that means always Post right!

No it should be calculated on time basis so entire interest will be post incorporation

Likhitha Sivani

CA Final

★ 14K+

12-May-22 14:10

Yes..post incorporation

Priyanka R

CA Final

★ 20K+

12-May-22 16:05