What is the entry for bank guarantee,

Answer Posted / 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



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

in insolvency we have to prepare deficiency account but why we do not prepare this account as per general principle i.e Dr Cr To By etc , and deficiency account is which account?

4614


Tell me why did you select accounting as your profession?

559


what is a grn in terms of accounting ? what is a grnthroughpo in terms of purchase order? what is a direct grn?

3847


lic (life insurance corporation)how much he or she as to deduct income tax on his gross annual salary. please give with examples

1581


What is control in accounting?

581






I post Optional Voucher in Tally.ERP in which there is deduction of TDS is applied. But when I convert this voucher as regular voucher the TDS entry have to make again why so

1596


Your grandfather is 75 years old. He has total savings of Rs.80,000. He expects that he live for another 10 years and will like to spend his savings by then. He places his savings into a bank account earning 10 per cent annually. He will draw equal amount each year- the first withdrawal occurring one year from now in such a way that his account balance becomes zero at the end of 10 years. How much will be his annual withdrawal?

1732


Who owns the general ledger?

635


have you ever been involved in an invoice dispute? How did you manage the problem?

697


What is the diffrent job&project accounting?

1467


Describe me accounting rules

1517


What is vat adjustment?

629


How to pass accounting entry for a tender cost and under which head? and how to show joint venture in venture's accounting books?under which head?

2103


Company XYZ split 5:1 on June 30, 2008. Date Close Price # of Shares Revised Closed Price Revised # of Shares June 15, 2009 $75.00 5,000 $75.00 5000 April 23, 2009 $72.00 7,500 $72.00 7500 March 31, 2009 $67.00 135 $67.00 135 March 31, 2008 $275.00 531 $55 2755 November 30, 2007 $233.00 266 $46.6 1330 October 6, 2006 $1,333.00 10 $266 50

1674


What is account receivable?

651