ALLInterview.com :: Home Page            
 Advertise your Business Here     
Browse  |   Placement Papers  |   Company  |   Code Snippets  |   Certifications  |   Visa Questions
Post Question  |   Post Answer  |   My Panel  |   Search  |   Articles  |   Topics  |   ERRORS new
   Refer this Site  Refer This Site to Your Friends  Site Map  Bookmark this Site  Set it as your HomePage  Contact Us     Login  |  Sign Up                      
Google
   
 
Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1900)
 Accounting General interview questions  Accounting General Interview Questions (2813)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4364)
Question
Hi Everybody,

1). Can anybody tell me the Journal entry for Bank charges 
Rs.100 and under which account it will come.
2). Received interest from Bank what is the journal entry, 
under which account it will come,

Awaiting for soonest reply,

Thanks,
Khan

 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
bank charges A/c dr ****
To bank A/c ****
(here the cash is not going through our hands,the banker is
going to deduct it from our account,so we need to less the
bank balance by crediting it,and by debiting bank charges.)

bank A/c dr ****
To interest A/c ****
(we are not receiving interest in form of cash from the
banker,simply he is going to credit the interest part to
our account.we are going to debit our bank balance to the
extent of interest part.we should not treat it as cash
receipt unless and until we realised it)
 
Is This Answer Correct ?    51 Yes 2 No
Prem
 
Answer
# 2
1. The entry for bank charges debited to the account:

Bank charges/Interest account dr.
To Cash/Bank account cr.

2. The entry for bank charges credited to the account:

Cash/Bank account dr.
To Bank Interest account cr.

The Bank charges or Bank Interest account will be under
bank accounts. As the interest debited or credited is in
bank, and not realised.
 
Is This Answer Correct ?    14 Yes 2 No
Supriya Shetty
 
 
 
Answer
# 3
KHAN TO KHAN

BANK CHARGES IS AN INDIRECT EXP WHICH IS A NOMINAL A/C

BANK CHARGES A/C DR 100
TO BANK A/C 100

YOUR SECOND ENTRY INTEREST RECEIVED IS AN INCOME

BANK A/C DR 100
TO INTEREST REC A/C 100

PLEASE REMEMBER ME IN YOUR PRAYERS
 
Is This Answer Correct ?    14 Yes 2 No
Amjad Khan
 
Answer
# 4
Hi Mr.Cartik,

Thanks for your reply, but why dont we take instead of
abouve,

Bank Charges A/c Dr xxx
To Bank xxx

Rec. Interest A/c Dr xxx
To Bank xxx

means i want to clear my doubt, also i need clarification
how it is affecting to Cash A/c.

Thanks,
Khan
 
Is This Answer Correct ?    22 Yes 13 No
Khan
 
Answer
# 5
Hi, mistaken in the last answer it should be

Bank Charges A/C...Dr
To Bank A/C
(Being bank charges charged by bank)

Bank A/C....Dr
To Interest received A/C
(being Interest received- on deposit)
In case the interest is pais the entry will be
Interest paid A/C....Dr
To Bank A/C
(Being Interest paid)
 
Is This Answer Correct ?    7 Yes 0 No
Dhanashree
 
Answer
# 6
Bank charges a/c dr 100
To bank a/c 100
bank charges comes under nominal a/c
Bank a/c dr
To interest a/c
interest also comes under nominal a/c
 
Is This Answer Correct ?    7 Yes 1 No
Purushotham
 
Answer
# 7
Hi, Since the bank charges are directly debited from our
account, we will reduce the bank balance (by debiting bank
account) remember creditin Bank account means cash is
adding into your account. Journal entry should be:
Bank A/C.....Dr
To Bank Charges A/C
(Being bank charges charged by bank)

In case of Interest is received on deposit etc. We should
treat it as income and journal entry should be:

Cash A/C....Dr
To Interest received A/C
(Being interest received)
 
Is This Answer Correct ?    4 Yes 1 No
Dhanashree
 
Answer
# 8
Bank charges a/c-----dr 100
To Cash/Bank ------A/c 100

(Being Bank charges is paid)

Bank a/c-----dr xxxx
To Interest --------A/c xxxx

(Being Interest received from bank)
 
Is This Answer Correct ?    1 Yes 0 No
Vishnu Murthy.p
 
Answer
# 9
bank charges a/c dr 100
to bank a/c 100
(being the amount reduce by bank)

It comes under Nominal A/C

Cash A/c dr
to bank A/c
(being the amount received from bank)
 
Is This Answer Correct ?    0 Yes 0 No
Narayan Dey
 
Answer
# 10
1) bank charges a/c dr 100
To cash a/c 100
(being bank reduce ur money from your account)

2)Cash a/c Dr 100
To Bank Interest a/c 100
(Being the bank add a interest money in ur account)
 
Is This Answer Correct ?    4 Yes 5 No
Sfk
 

 
 
 
Other Accounting General Interview Questions
 
  Question Asked @ Answers
 
what is BRS and how it is prepared in BPO sector?? Please answer fast..... EXL 5
hi to all this is sai i attend interview for genpact last week he asked me about BRS :if ur MD issued a cheque for his own insurance premium what u will do? this is the question plz give answer for this Genpact 13
what is the effect of surplus in p&l account? or what is its significance   1
what will be the journal entry-discount rs 2000 allowed to mr x.and discount received rs 2000 from mr x.actually i am confused that in the first entry both discount a/c and mr x a/c will be credited as per the accounting standards.please help experts.thanks   2
what is debit balance of p&l a/c show in asset side of b/s? Capital-IQ 2
9. Fixed Cost assumed to be $ 2,700. Variable Cost is $ 70 per unit. Selling Price is $ 100 per unit. What would be the Breakeven Point in Units?   1
what is the journal entry for accumulated depreciation? Core-Logic 4
Is accounts payable and bills payable the same?and B/R & A/R the same ?   2
what is profit & Loss Appropriation A/c. why it is prepered? what are its benefit for a company.   3
How can pass the entry stock goods loss by fire or theft Accenture 2
I M DIVISIONAL ACCOUNTANT. POSTED IN TAMILNADU. MY NATIVE STATE IS BIHAR. I WANT TO KNOW, WHAT R THE RULES OF CADRE TRANSFER. I M FACEING HERE SOME PROBLEMS   1
I have recieved a payment from hmrc on Friday morning and by the afternoon it was removed from my bank account by contra entry what does this mean? Will I recieve the money? ME 2
 
For more Accounting General Interview Questions Click Here 
 
 
 
 
 


   
Copyright Policy  |  Terms of Service  |  Articles  |  Site Map  |  RSS Site Map  |  Contact Us
   
Copyright 2013  ALLInterview.com.  All Rights Reserved.

ALLInterview.com   ::  KalAajKal.com