24 October 2010
DEAR SIR I TAKE ONE L/G FROM BANK RS.20000/- AND BANK DEDUCTED FROM US RS.21000/ AND MARGIN STATEMENT FROM BANK SHOWING RS.21000/- BUT L/G SHOWING ONLY RS.20000/- SO THE ENTRY MUST BE
MARGIN ON GTEE DR RS.1000/- L/G DR RS.20000/-
TO BANK RS.21000/- THIS ENTRY IS RIGHT OR NOT PLEASE HELP ME
25 October 2010
First you be clear , what is the correct transaction amount, bankers charge BG charges, and keep the margin amount as deposit which is relaesed after the guarantee period.
Entry should be
Bank charges Dr 1000 Deposit against BG 20000 To Bank A/c 21000
CAclubindia
