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vidya shetty (senior accountant)     23 June 2010

Minor FD

I want to know how the Minor FD appearing in parents balancesheet should be transferred to minor account on becoming major. what are the journal entries? On becoming Major FD will be debited in his accoount but what other account should be credited? please help urgent
 



 1 Replies

Sunil Liladhar Kotak

Sunil Liladhar Kotak (Manager (F & A))     25 June 2010

Dear,

It is the capital account through which the FD will be routed

Capital Account ................Dr.

              To FD(Minor)

(Being Minor FD gifted to him/her)

 

 

 


 


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