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Rent security journal entry


Amit (Accounts Manger)     30 October 2020

Amit
Accounts Manger 
 14 likes  284 points

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what would be journal entry for rent security deposit with owner

&

what will be entry when we receive back rent security

what is head of buliding owner

S ELAVARASI

S ELAVARASI (ACCOUNTANT)     30 October 2020

S ELAVARASI
ACCOUNTANT 
 265 likes  2910 points

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Ledger Name : Rental Advance (current assets).
For payment -
Rental Advance - Rs. 100
To Bank Account - Rs. 100...

For receipts -
Rental Advance - Rs. 100
By Bank Account - Rs. 100

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prasad  Nilugal

prasad Nilugal (Sr . Accountant and GST Practitioner . )     30 October 2020

prasad Nilugal
Sr . Accountant and GST Practitioner .  
 372 likes  5547 points

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When you pay security  Deposit  entry will be 

Security  Deposit    A/c     Dr 

To  Bank                 A/c     Cr 

(  Security  Deposit  paid  for  rental  Home ) 

Security  Deposit  Account  under head  Current -Asset 

 

When  you receive back  entry will be 

Bank   A/c                               Dr 

To  Security  Deposit     A/c   Cr 

(  Security  Deposit  received ) 

 

1 Like
Amit

Amit (Accounts Manger)     30 October 2020

Amit
Accounts Manger 
 14 likes  284 points

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Thank you


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