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Earnest money deposit

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Abhimanyu Singh

Abhimanyu Singh (Querist)
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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

CA R SEETHARAMAN (Expert)
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26 May 2017 Show it under current assets EMD deposit.

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Abhimanyu Singh

Abhimanyu Singh (Querist)
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26 May 2017 no entry in expense account?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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26 May 2017 Yes no entry in expenses ac.

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