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what is the Journal entry for BANK GUARANTEE given by a bank
for our company? Giv an example.
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Answer Posted / auditya
generally there is no entry for BG in your books
and if required for the sake of records it may be
mentioned as a statement , but no entry will be passed
| Is This Answer Correct ? | 6 Yes | 7 No |
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The following are the list of Balances of SUNSHINE Company as at 1.2.2012 RM Land and building 450,000. Furniture and Fittings 35,000. Office Equipment 25,000. Motor Vehicles 75,000. Inventory 5,000. Trade Receivables 12,000. Trade Payables 8,000. Bank Loan 200,000. Bank 13,000. Cash in Hand 1,000. Capital 408,000.
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