The "restricted account" you are referring to is probably a "fund". Monies
collected for a specific purpose and meant to be used for that specific
purpose only. These are accounts that need to be kept in the Equity
section.
Actually, there are SEVERAL ways restricted funds may be accounted for.
A lot will depend on the answer to two questions.
a) Do these funds have their own bank accounts?
b) What are the rules of your jurisdiction as to how restricted funds
should appear on the balance sheet.
Those answers will determine what options remain for accounting for
restricted funds.
Michael D Novack
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