Double Entry System.
Double Entry System.
The double-entry system refers that, every business transaction has debit and credit entries.
The below youtube explanation may give more knowledge regarding this chapter.
Loan repayment table creation
How to prepare the bank loan repayment table Everyone need to take the bank loan over their life so we need to gather the knowledge on how to calculate the loan repayment table. Once we paid the equal month installment, there should be the interest portion and capital portion in monthly installment. Interest portion will be go down that mean first month you need to pay high interest and it will reduce in next coming months. at the same time you will pay less capital portion in first monthly installment and it will increase in next coming months. Usually we used the three excel formula to calculate the monthly installment, interest portion and capital portion, PMT - This formula use for computing the monthly installment amount IPMT - This formula use for finding the interest portion in monthly installment PPMT - This formula use for gathering the capital portion in monthly installment For example. You need to take 10,00,000.00 loan form commercial bank with interest annual rate 15% and ...
Supperb explanation
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