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Security deposit on which side of profit and loss account

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16 Points Posted on 24 November 2021
in which side of profit and loss account should we put the security deposit if there is no deduction in it
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On 24 November 2021 at 22:37 Report
Replies (4)
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GST Practitioner & Accounts
15085 Points Posted on 24 November 2021
If security deposit paid by your company and same is refundable in future , then you have to show uner " Current Assets " Balance sheet .
24 Reply
On 24 November 2021 at 23:04
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My grammar is 💯 good I
7301 Points Posted on 25 November 2021

Exactly true. How about if we make it like 

Bank a/c

To Security deposit a/c in current liabilities? 

15 Reply
On 25 November 2021 at 09:38
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GST Practitioner & Accounts
15085 Points Posted on 25 November 2021
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 .
24 Reply
On 25 November 2021 at 10:26
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My grammar is 💯 good I
7301 Points Posted on 25 November 2021

Your first answer is true conceptually because collateral is treated the same way. 

15 Reply
On 25 November 2021 at 11:05


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