dlrem49
Level 1
12-07-2019
02:27 AM
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Was asked to do a profit and loss to divide up shares of profit, before note payment was made to a share holder. Then after a payment is made, how much should apply to the note, the interest, then the earnings on that particular division of the profits.
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TaxMonkey
Level 8
12-07-2019
02:27 AM
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A loan payment is made generally according to the loan agreement. Between third parties usually monthly, but from a shareholder, often on demand or according to other terms. The interest on a shareholder loan is a business expense and should be included on the P and L.
