A company has received amounts as Training advance from some employees. The amount was credited to Security Deposit account. At the end of the year, when the training was completed, a balance of Rs 20,000 remained from the Deposit amount after paying the trainee a stipend of Rs 20,000 every month. The company is absorbing this amount as Training materials, certification expense etc. To which account this income has to be taken?
Some of the employees have LOP during the year and hence they were not paid full Rs 20,000 each month. How could this LOP be adjusted from the Deposit amount.
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CAclubindia
