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Bank guarantee & margin money
Dears,
Kindly clarify me the accounting treatment of margin money through the below example-
BG Amount-100000 Say, margin money 10% of BG Amount i.e 10000
Replies (1)
there will be simple jpurnal enyry
investment a/c. dr. 10000
to bank a/c. 10000
in audited balance sheet will be mention about bank guarantee in notes to accounts
investment a/c. dr. 10000
to bank a/c. 10000
in audited balance sheet will be mention about bank guarantee in notes to accounts
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