If the deposit for shares does not meet the definition of liability i.e. there is no obligation to pay back then it should be treated as equity.
I received rental refundable deposit back, how i treat in account and what type of head is it.......
it is not included since the bank is already closed
Its a liability, an amount your company owe to that customer.
If the deposit for shares does not meet the definition of liability i.e. there is no obligation to pay back then it should be treated as equity.
check
I received rental refundable deposit back, how i treat in account and what type of head is it.......
it is not included since the bank is already closed
Its a liability, an amount your company owe to that customer.
If the deposit for shares does not meet the definition of liability i.e. there is no obligation to pay back then it should be treated as equity.
If the deposit for shares does not meet the definition of liability i.e. there is no obligation to pay back then it should be treated as equity.
Profit reinvested i the company by its share holders is called share deposit money
Profit reinvested i the company by its share holders is called share deposit money
check
It may be cash on Deposit or delivery
fixed deposit A/c dr. to int on fixed deposit
Even if the account is closed, the cash inside of the account is still considered an asset and no accounting entries are necessary. If a new account is opened, the new account is debited the cash balance and the old account is credited.
Share deposit money refers to checks that can be paid on demands. Letters of credit can also be deposit money.