Earnest money deposit
This query is : Resolved
Abhimanyu Singh
(Querist)
26 May 2017
Hi, I have deposited EMD for tender to supply machines. This deposit is refundable as per tender terms. Could you tell me what will be the accounting treatment for EMD deposited in books of accounts in case of Sole proprietorship trading business?
CA R SEETHARAMAN
(Expert)
26 May 2017
Show it under current assets EMD deposit.
Message likes :
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Abhimanyu Singh
(Querist)
26 May 2017
no entry in expense account?
CA R SEETHARAMAN
(Expert)
26 May 2017
Yes no entry in expenses ac.
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