Delar deposite payment at the time get agency gas (Indian oil).
deposit date is 02-10-2017 and now this deposite is non refundable so this deposite is transfer to expense account or capital account
please suggest me.
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Regarding Deposite
Replies (11)
Quick Summary
Non refundable means...?
what about the amount...?
Is it tallied with purchase of LPG or other way...?
what about the amount...?
Is it tallied with purchase of LPG or other way...?
AMOUNT IS 360000 AND this is a one lot 242 boteel DEPOSTE non refundable.
Okay Bro...
Non-refundable... right.
But,
What about the amount refund position or tally with supply of gas....?
Non-refundable... right.
But,
What about the amount refund position or tally with supply of gas....?
Amount is not refund this is block even agency is closed and turn over is 2cr.
Here IOC is declared for it's Non-refundable...?
or
Agency will not ask the refund...?!
or
Agency will not ask the refund...?!
Ioc declared it's non refundable sir
Ohhh okay okay...
If IOC declared it's Non-refundable then You can book it under PandL account...
If IOC declared it's Non-refundable then You can book it under PandL account...
Thank u very much sir thank u
Welcome Dear...
The amount of deposit shall be treated as an expense because it is non refundable in nature.
Query already solved with thanks from Querist...
If answers are wrong or any different views with extra points then short out the issues...
If answers is correct then better to leave it after Querist satisfied...
If answers are wrong or any different views with extra points then short out the issues...
If answers is correct then better to leave it after Querist satisfied...
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