What is the entry for bank guarantee,
- 7 Answers
- 27645 Views
- Karadi Path, Levtech Consulting, I also Faced
- E-Mail Answers
Answer Posted / 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 |
Post New Answer View All Answers
What is the important of computerized accounting to manual?
M/s ABC Brothers, which was registered in the year 2000, has been following Straight Line Method (SLM) of depreciation. In the current year it changed its method from Straight Line to Written Down Value (WDV) Method, since such change would result in the additional depreciation of Rs. 200 lakhs as a result of which the firm would qualify to be declared as a sick industrial unit. The auditor raised objection to this change in the method of depreciation. The objection of the auditor is justified because (a) Change in the method of depreciation should be done only with the consent of the auditor (b) Depreciation method can be changed only from WDV to SLM and not vice versa (c) Change in the method of deprecation should be done only if it is required by some statute and change would result in appropriate presentation of financial 6 statement (d) Method of depreciation cannot be changed under any circumstances
Scheme is given by a company to his distributors on sale of goods, what is the treatment of this scheme distributors hand Direct income or indirect income
What is fbt (fringe benefit tax)?
Do you know what is double-entry accounting? Explain with an example?
List out the stages of double entry system?
please advice example of any single journal entry which include all 3 accounts i.e personal, real & Nominal a/c.
in our co we are sales of good to branch in order sales+fright, branch made jv entry in own book as full amount debit and credit. now our book show sales without freight but branch shows including freight that why differences is arise due to wrong entry passes pls clarify this entry and this entry is done last year book now balance is finalize.
Dillution effect on EPS
What is the difference between provision and reverse?
If A Company pays amount thru bank for a supplier deducting tds on behalf of B company. Accounting entries to be made in company A and B
non cash or bank income or expense
What is the rate of penalty charged when the given Vat Cheque dishonoured?
How do you classify errors in accounting?
What is the difference between personal account real account and nominal account?
