Question

tender deposit a/c which type of account​

Answer 1

Answer:

When giving deposit money for taking appartment on rent

Deposit for appartment Dr. XXX

To Cask XXX

(Being cash deposit for rent)

In this case Deposit for appartment will be shown as asset of the company's balance sheet.

When deposit is refunded by the person

Cash/Bank Dr. XXX

To Cash XXX

(Being money paid as deposit received back)

In this cash cash will be increased and deposit account will be removed from balance sheet.

If you are receiving deposit from some other person

Cash/Bank Dr. XXX

To Deposit for appartment XXX

(Being deposit received which are refundable)

In this case amount will be shown in liability side of balance sheet as you have to pay this amount in near future

When money is refunded

Deposit for appartment Dr. XXX

To Bank XXX

(Being amount received for deposit now refundrd)

Now amount will be removed from balance sheet and cash will also be reduced.

NOTE: Write the name of vendor as its possible you may get confused after you have to refund the amount in case of multiple appartment holder. I prefer to write vendor name in translation.

Hope it's helpful dear