Hi,
Is Caution money recieved (for performance of contract) and forfeited also deductible from COA of the asset along with the advance monet recieved and forfeited?
Ankush Pandey (0) (24 Points)
01 June 2013Hi,
Is Caution money recieved (for performance of contract) and forfeited also deductible from COA of the asset along with the advance monet recieved and forfeited?
Ishan kewlani
(Article)
(172 Points)
Replied 01 June 2013
Yes both need to be deducted from COA if they are forfeited.
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