My company was granted a bank facility of 750,000 for
guarantee, performance bond, advance payment, retention
guarantee and 100,000 bank overdraft. These facility amount
was never added to the company account.
a. What is the entry?
b. Lien over fixed deposit for 50,000 to be brought upfront
c. Lien over gradual buildup for fixed deposit 50,000 by
transferring 10,000 monthly from customer's account to
separate call account.
d. After a month, we had an overdraft of 22,000. What will
be my entry?
e. After 3 months, we have a construction project and was
asked for advance payment of 24,000 with a 25% margin?
f. Another company asked for performance bond of 44,200
with 25% margin.
- 0 Answers
- 1866 Views
- I also Faced
- E-Mail Answers
No Answer is Posted For this Question
Be the First to Post Answer
what is matching concept
10 Answers Capital IQ, ITC Infotech,
What is the difference between inactive accounts and dormant account?
how to enter ATM withdrawal transaction in tally
whois invitied a accounts
when we use credit card, then what will do entries in tally erp as a accountant and second question that if he do entry then what will thay keep under the ledger of credit card.
1 Answers State Bank of Mysore SBM,
What is s bank reconciliation statement? Give an ex where the Bank book and d cash book will not reconcile?
I want to see company ROC no can you please tell me where it should be mentioned.
Can anyone clearly explain difference between assessment year and financial year?
What are direct and indirect taxes?
In which group " charity" will come under.....in tally?
Explain me what do you think is bank reconciliation statement?
what will be the treatment of tds deducted by clients if the it is private company
Audit 
