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Deposits received

This query is : Resolved 
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(Querist)
02 August 2013 Where we have to disclose the deposits received from dealers
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
02 August 2013 If such deposits are refundable or adjustable to the due from such dealers in future then disclose it under current liabilities or non-current liabilities depending on the period of repayable or adjustable due as on the date of balancesheet.

In case such deposits are non-refundable or adjustable then credit to the Profit and loss account in the year of receipt.

OM SAI SRI SAI JAI JAI SAI
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