Cheques
Querist : Anonymous
we are in real estate firm and we received from customer security cheques aganist rent
this security cheque i want to enter in my books of accounts.please give me the journal entry and under which head i can create this ie(c/liability)
please help me
then entry will be
Bank A/c Dr
To Security Rent "A"
(Being security received from Mr. A on account of rented house no..........)
Querist : Anonymous
we can't deposit to bank because they are giveing rent (unless if they did not give the rent we can submit to bank)and i want to keep this cheque in my accounts supperately.because my owner want to see this cheques in book of accounts
Security Cheques A/c Dr
To security Rent A
it will effect Asset and Liability both. but auditor can object because it will effect your current ratio. But entry will be this
Querist : Anonymous
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