Amit (Accounts Manger) 30 October 2020
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 (ACCOUNTANT) 30 October 2020
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
prasad Nilugal (Sr . Accountant and GST Practitioner . ) 30 October 2020
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 )
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