Is letter of Credit recorded under Bank as restricted cash or under current assets? Assume the company has deposited the funds into a CD to get the letter of credit. What is the JE to book it?

mmali1979

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• Mar 16th, 2010

Dr. to Bank Gurantee A/cCr. to  Particular Bank A/c.Being Certain amount deposited in a bank  for bank Gurantee for certain time/period.Once transaction finished pls reversal the same entry.Dr. to Particular Bank A/cCr. To Bank Gurantee A/c

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What Account is Salary outstanding? Is it real, personnel or nominal account?

Khushi

• Dec 11th, 2018

How to calculate outstanding salary when it is for only 1 month

naman bagga

• Dec 7th, 2017

O/s expense is an expense which is still to be paid like unpaid rent, unpaid salary and many more. It is a type of liability actually. It is a expense in which we have used the service or taken the service but the amount is not paid or given.

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