Bank guarantee
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 October 2012
Dear Sir,
Our Company issued a Bank Guarantee of Rs.20000 from our Bank to Air India.Please let me know what is the Accounting treatment in our books.
Thanks
Mukul
Our Company issued a Bank Guarantee of Rs.20000 from our Bank to Air India.Please let me know what is the Accounting treatment in our books.
Thanks
Mukul
CA RICHA BADALIA
(Expert)
16 October 2012
No accounting treatment of bank guarantee.
It is a contingent liability ,will be shown in notes to accounts.
It is a contingent liability ,will be shown in notes to accounts.
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