Security deposit on which side of profit and loss account
Aryan Roy (16 Points)
24 November 2021
prasad Nilugal
( GST Practitioner & Accounts )
(14149 Points)
Replied 24 November 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 25 November 2021
Exactly true. How about if we make it like
Bank a/c
To Security deposit a/c in current liabilities?
prasad Nilugal
( GST Practitioner & Accounts )
(14149 Points)
Replied 25 November 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 25 November 2021
Your first answer is true conceptually because collateral is treated the same way.
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