What is the entry for bank guarantee,
Answers were Sorted based on User's Feedback
Answer / lokesh
No Entry will be passed for this situation,
Guarantee use for person information.
Is This Answer Correct ? | 22 Yes | 5 No |
No entry needed to pass for Bank Gaurantee
Is This Answer Correct ? | 19 Yes | 5 No |
Answer / kailas c. gade
Liability for acceptance ( BG ) A/c Dr.
Acceptance for Liability A/c Cr.
It is shown in balance sheet as contra entry
Is This Answer Correct ? | 3 Yes | 1 No |
Answer / b.m.rajasekhara rao
Bank guarantees are 3 types 1. Advanced, 2 performance 3. Corporate.
Entry is not required for bank guarantee. It is contingent liability.
It is shown in notes to accounts in year ending balance sheet
If you have given security deposit or fixed deposit against bank guarantee on that time debit to fixed deposit and credit to bank.
Is This Answer Correct ? | 3 Yes | 2 No |
Answer / vinod
A contra entry will be passed on issuing a bank
guarantee.Mostly it will be some what similar to these
CR banks contra
DR Customers Contra
Is This Answer Correct ? | 6 Yes | 7 No |
What is a ledger? What do you mean by ledger posting?
please explain me, if I pay salary advance 3000 to satish then how to record entry, for payment, journal, adjustment if salary is 1500/month please send me correct entry shortly
2 Answers AAI Airports Authority Of India,
CAN WE SUBMIT SERVICE TAX CHALLAN MORE THEN ONE IN A MONTH
maximum bank permissable finance
WHAT IS THE ENTRY FOR BOOKING PROVISION...? IS IT COMPULSARY FOR BOOKING PROVSION IN ACCOUNTING?
Example of deferred liability and asset?
Cheque rs 1400 received from Charles in settlement of a debit of rs 1500 returned dishonored
Purchases book records: (a) All cash purchases. (b) All credit purchases. (c) Credit purchases of goods in trade. (d) None of the above.
WHAT CAN CLOSING STOCK SHOWING IN TRIAL BALANCE
IS METHODEX IS GOOD INSTITUTE FOR SAP FICO MODULE TRAINING. IS IT IN BANGALORE OY HYDERABAD.
Cheque Received From Customer What is accounting entry and in which vocher. coustomer order is 100 items . 5 items given to customer cost rs 2000 5 items Total 2000 and remaing 95 items not deliveried 100000 Cheque Received
What is the difference between income and income statement???