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Security deposit


priti shaw (Student CA IPC / IPCC)     19 January 2020

priti shaw
Student CA IPC / IPCC 
 21 points

| My Other Post

 

Suppose the contract value is Rs 1000000 and SD will be deducted @ 10% from each bill. The SD will refunded after 12 months from the date of completion of contract.How will we treat the refundable security deposit in A Ltd books (service provider). Contact completion period 15 months.What journal entry will be passed in A Ltd books. How will we treat the interest on the SD , will it accounted at the time of receiving the SD or on monthly basis?

 




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