Accounting adjustment of accrued interest received on bonds
This query is : Resolved
19 January 2023
Entry at the time of investment
6.67% GOI (Investment) --46,37,500
Accrued Interest GOI Bond ( Investment) -1,30,620.83
To Party A/c 47,68,120.83
Now accrued interest received on dated
15-06-2022
Bank A/c Dr. 1,30,620.83
To Interest accrued GOI Bond 1,30,620.83
15-12-2022
Bank A/c Dr. 1,30,620.83
To Interest accrued GOI Bond 1,30,620.83
Now my question is that for twice accrued interest received how to treat in my books of accounts of Rs. 1,30,620.83+1,30,620.83 =2,61,241.6
6.67% GOI (Investment) --46,37,500
Accrued Interest GOI Bond ( Investment) -1,30,620.83
To Party A/c 47,68,120.83
Now accrued interest received on dated
15-06-2022
Bank A/c Dr. 1,30,620.83
To Interest accrued GOI Bond 1,30,620.83
15-12-2022
Bank A/c Dr. 1,30,620.83
To Interest accrued GOI Bond 1,30,620.83
Now my question is that for twice accrued interest received how to treat in my books of accounts of Rs. 1,30,620.83+1,30,620.83 =2,61,241.6
20 January 2023
I have a question why you have booked accrued interest at the time of investment ?
It has to be at the time of closing book or from statement of credit.
It has to be at the time of closing book or from statement of credit.
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