 |
| Corporate Accounting Treatment |
**Here is the Demo EDF Bank statement only for learning purposes**
ABC BANK PLC.
Principle Branch
15,Dilkusha C/A , Dhaka-1000
A/C Statement
A/C No: 00247200348 Type of Account: EDF- CASH
A/C Name: Corporate Practice bd LTD. Date of opening:06.11.2023
Address:Tangail ,Dhanbari Currency: BDT
Against LC NO.12022210850 A/C status: CLOSED
|
Date |
Particulars |
Debit |
Credit |
Balance |
|
06.11.2023 |
Principle Loan A/C-200348 |
6,50,00,000 |
|
6,50,00,000 |
|
30.12.2023 |
Excise duty charge |
50,000 |
|
6,50,50,000 |
|
30.07.2024 |
Excise duty charge(realized) |
|
50,000 |
6,50,00,000 |
|
30.07.2024 |
Partial Adjustment$95,000@118 |
|
1,12,10,000 |
5,37,90,000 |
|
31.07.2024 |
Partial Adjustment$55,000@118 |
|
64,90,000 |
4,73,00,000 |
|
14.08.2024 |
Partial Adjustment$75,000@118 |
|
88,50,000 |
3,84,50,000 |
|
19.08.2024 |
Partial Adjustment$17,000@118 |
|
20,06,000 |
3,64,44,000 |
|
10.09.2024 |
Partial Adjustment$1,40,000@118 |
|
1,65,20,000 |
1,99,24,000 |
|
30.09.2024 |
Partial Adjustment$30,000@118 |
|
35,40,000 |
1,63,84,000 |
|
09.10.2024 |
Partial Adjustment$1,23,000@118 |
|
1,45,14,000 |
18,70,000 |
|
16.10.2024 |
Closing Payment$15,847.4576@118 |
|
18,70,000 |
0000 |
|
|
Total |
6,50,50,000 |
6,50,50,000 |
|
Authorized Signature
Let starts with Interest calculation before Accounting treatment:
|
Account Title |
From |
upto |
Maturity(Period) |
Int-rate% |
Profit Charged |
USD$ |
Debit |
Credit |
Outstanding Balance |
|
Opening Balance(Creation) |
7/8/2024 |
0 |
|
|
|
|
|
65,000,000 |
65,000,000 |
|
Charging Profit |
7/8/2024 |
7/30/2024 |
22 |
15.5 |
615,694.44 |
|
0 |
|
|
|
Re-payment |
7/8/2024 |
7/30/2024 |
|
|
|
95,000 |
11210000 |
|
53,790,000 |
|
Charging Profit |
7/30/2024 |
7/31/2024 |
1 |
15.5 |
23,159.58 |
|
|
|
|
|
Re-payment |
7/30/2024 |
7/31/2024 |
|
|
|
55,000 |
6490000 |
|
47,300,000 |
|
Charging Profit |
7/31/2024 |
8/14/2024 |
14 |
15.5 |
285,113.89 |
|
|
|
|
|
Re-payment |
7/31/2024 |
8/14/2024 |
|
|
|
75,000 |
8850000 |
|
38,450,000 |
|
Charging Profit |
8/14/2024 |
8/19/2024 |
5 |
15.5 |
82,774.31 |
|
|
|
|
|
Re-payment |
8/14/2024 |
8/19/2024 |
|
|
|
17,000 |
2006000 |
|
36,444,000 |
|
Charging Profit |
8/19/2024 |
9/10/2024 |
22 |
15.5 |
345,205.67 |
|
|
|
|
|
Re-payment |
8/19/2024 |
9/10/2024 |
|
|
|
140,000 |
16520000 |
|
19,924,000 |
|
Charging Profit |
9/10/2024 |
9/30/2024 |
20 |
15.5 |
171,567.78 |
|
|
|
|
|
Re-payment |
9/10/2024 |
9/30/2024 |
|
|
|
30,000 |
3540000 |
|
16,384,000 |
|
Charging Profit |
9/30/2024 |
10/9/2024 |
9 |
15.5 |
63,488.00 |
|
|
|
|
|
Re-payment |
9/30/2024 |
10/9/2024 |
|
|
|
123,000 |
14514000 |
|
1,870,000 |
|
Charging Profit |
10/9/2024 |
10/16/2024 |
7 |
15.5 |
5,635.97 |
|
|
|
|
|
Re-payment |
10/9/2024 |
10/16/2024 |
|
|
|
15,847 |
1870000 |
|
- |
|
|
|
|
Total |
|
1,592,640 |
550847 |
65,000,000 |
65,000,000 |
|
Let’s starts with Practical Examples with Accounting treatment:
Voucher No. 01
Journal Entry for creation EDF Loan against R/C,LC-00247200348
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
Transit R/C, LC-12022210850 |
6,50,00,000 |
|
|
|
EDF-2472-348, RC-LC-10850 SIBL |
|
6,50,00,000 |
|
Narration:
EDF Loan creation $5,50,847@118 dt.06.11.2023 under import R/C LC- NO.120223010850
Voucher No. 02
Excise duty charged by bank against Loan Account balance Tk.50,000
Journal Voucher:
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
Bank charge General |
50,000 |
|
|
|
EDF-2472-348, RC-LC-10850 SIBL |
|
50,000 |
|
Narration:
(Excise duty charged by bank against Loan Account balance)
Voucher No. 03
Excise duty realized by bank Tk.50,000:
Bank payment voucher:
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
EDF-2472-348, RC-LC-10850 SIBL |
50,000 |
|
|
|
Social Islami Bank Ltd CD-5289 |
50,000 |
|
Narration:
Excise duty charge by ICT HO now realized dt.30 .07.2024
Voucher No. 4
Partial adjustment $95,000@118 dt.30.07.2024
Bank payment voucher:
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
EDF-2472-348, RC-LC-10850 SIBL |
1,12,10,000 |
|
|
|
Foreign exchange gain(import) |
2,50,000 |
|
|
|
Social Islami Bank Ltd CD-5289 |
1,14,60,000 |
|
Narration:
Partial adjustment EDF-2472-348, RC-LC-10850 SIBL $95,000@118 dt.30.07.2024
Voucher No. 5
Partial Adjustment$55,000@118 dt.31.07.2024
Bank payment voucher:
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
EDF-2472-348, RC-LC-10850 SIBL |
64,90,000 |
|
|
|
Foreign exchange gain(import) |
1,50,000 |
|
|
|
Social Islami Bank Ltd CD-5289 |
66,40,000 |
|
Narration:
Partial adjustment EDF-2472-348, RC-LC-10850 SIBL $55,000@118 dt.31.07.2024
Voucher No. 6
Partial Adjustment$75,000@118 dt.14.08.2024
Bank payment voucher:
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
EDF-2472-348, RC-LC-10850 SIBL |
88,50,000 |
|
|
|
Foreign exchange gain(import) |
2,80,000 |
|
|
|
Social Islami Bank Ltd CD-5289 |
91,30,000 |
|
Narration:
Partial adjustment EDF-2472-348, RC-LC-10850 SIBL 75,000@118 dt.14.08.2024
Voucher No. 7
Partial Adjustment$17,000@118 dt.19.08.2024
Bank payment voucher:
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
EDF-2472-348, RC-LC-10850 SIBL |
20,06,000 |
|
|
|
Foreign exchange gain(import) |
1,20,000 |
|
|
|
Social Islami Bank Ltd CD-5289 |
21,26,000 |
|
Narration:
Partial adjustment EDF-2472-348, RC-LC-10850 SIBL $17,000@118 dt.19.08.2024
Voucher No. 8
Partial Adjustment$1,40, 000@118dt.10.09.2024
Bank payment voucher:
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
EDF-2472-348, RC-LC-10850 SIBL |
1,65,20,000 |
|
|
|
Foreign exchange gain(import) |
4,50,000 |
|
|
|
Social Islami Bank Ltd CD-5289 |
1,69,70,000 |
|
Narration:
Partial adjustment EDF-2472-348, RC-LC-10850 SIBL $1,40, 000@118dt.10.09.2024
Voucher No.09
Partial Adjustment$30,000@118 dt.30.09.2024
Bank payment voucher:
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
EDF-2472-348, RC-LC-10850 SIBL |
35,40,000 |
|
|
|
Foreign exchange gain(import) |
95,000 |
|
|
|
Social Islami Bank Ltd CD-5289 |
36,35,000 |
|
Narration:
Partial adjustment EDF-2472-348, RC-LC-10850 SIBL $30,000@118 dt.30.09.2024
Voucher No.10
Partial Adjustment$1,23,000@118 dt.09.10.2024
Bank payment voucher:
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
EDF-2472-348, RC-LC-10850 SIBL |
1,45,14,000 |
|
|
|
Foreign exchange gain(import) |
5,50,000 |
|
|
|
Social Islami Bank Ltd CD-5289 |
1,50,64,000 |
|
Narration:
Partial adjustment EDF-2472-348, RC-LC-10850 SIBL $1,23,000@118 dt.09.10.2024
Voucher No.11
Closing Payment$15,847.4576@118 dt.16.10.2024
Bank payment voucher:
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
EDF-2472-348, RC-LC-10850 SIBL |
18,70,000 |
|
|
|
Foreign exchange gain(import) |
80,000 |
|
|
|
Social Islami Bank Ltd CD-5289 |
19,50,000 |
|
Narration:
Closing payment EDF-2472-348, RC-LC-10850 SIBL $15,847.4576@118 dt.16.10.2024
Summary of EDF Loan -2472-348 Statement:
Loan Amount(principle) =Tk.6,50,00,000
(Less)Loan repayment(Partial) = (Tk.6,31,30,000)
(less) Full & Final Payment = (Tk.18,70,000)
Balance = Nil
Summary of Total Interest for the period (07.08.2024 to 10.16.2024) =100 days
Total Interest charged =TK.15,92,640
Here, we paid interest Amount Tk.15,92,640 from our CD-A/C #5289(SIBL)
Bank payment voucher:
|
Ledger Name |
Debit (TK) |
Credit (TK) |
Remarks |
|
Interest on EDF |
15,92,640 |
|
|
|
Social Islami Bank LtdCD-5289 |
15,92,640 |
|
The END.