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Security deposit on which side of profit and loss account
in which side of profit and loss account should we put the security deposit if there is no deduction in it
Replies (4)
Quick Summary
If security deposit paid by your company and same is refundable in future , then you have to show uner " Current Assets " Balance sheet .
Exactly true. How about if we make it like
Bank a/c
To Security deposit a/c in current liabilities?
When we received security deposit , and if it is refundable , then you have to show under Current Liability , Balance sheet . It's Liability to pay. in future .
Your first answer is true conceptually because collateral is treated the same way.
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