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 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4358)
Question
What is Contra Entry?
 Question Submitted By :: M.setty
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What is Contra Entry?
Answer
# 1
some transactions are recorded in three column cash book
which relates to both cash & bank i.e. balance of one will
decrease and other will increase due to such transactions.
such transactions are entered on both sides of the cash
book . such entries are known as Contra Entry.
 
Is This Answer Correct ?    315 Yes 35 No
Amir
 
  Re: What is Contra Entry?
Answer
# 2
In the journal entrys some of the entries are reflect more
than 2 related ledgers are called the contra entry.That
means it is the entry that will dicrease the amount in one
account and increase the amount in the other account that
was relating to same entry of the above entry.In these type
of entries were made with in the orgination accounts
 
Is This Answer Correct ?    89 Yes 63 No
Suman
 
 
 
  Re: What is Contra Entry?
Answer
# 3
Contra entry is one which is recorded in the both side of
the Three column cash book by indicating capital 'C'in L.F
column. It is recorded only when on of the below entry is
happend. Such as
1. When cash deposited in to bank.
2. When cash withdrawl form bank.
 
Is This Answer Correct ?    156 Yes 30 No
Mahmood
 
  Re: What is Contra Entry?
Answer
# 4
which accounting entry is recoreded on both the debit and
credit side of the cash book is known as the contra entry
 
Is This Answer Correct ?    79 Yes 22 No
Sureshkumar
 
  Re: What is Contra Entry?
Answer
# 5
Contra entry is one which is recorded in the both side of
the Three column cash book by indicating capital 'C'in L.F
column. It is recorded only when on of the below entry is
happend. Such as
1. When cash deposited in to bank.
2. When cash withdrawl form bank.
3. also cash transfferance of cash to one bank to another
bank.
 
Is This Answer Correct ?    108 Yes 15 No
Ritesh Baranwal
 
  Re: What is Contra Entry?
Answer
# 6
Contra entry is journal entry.It will be effect in two books
one is cash book and another one is bank book.Now we will
be take cash deposit in bank and entry will be come like
this

Bank A/c dr ***
to cash A/c ****
(cash deposit in bank)
now here bank balance is increase and cash balances is
dicrease and it is effected in both books.
 
Is This Answer Correct ?    67 Yes 18 No
Mahesh Babu
 
  Re: What is Contra Entry?
Answer
# 7
the entry which occurs both debit side and credit side in
the three column cash book is called contra entry.

ex: cash paid to bank
bank account dr
to cash account
 
Is This Answer Correct ?    48 Yes 16 No
Rajesh
 
  Re: What is Contra Entry?
Answer
# 8
Contra entry.This can be passed only in three column cash
book. Some transactions are recorded in three column cash
book.which relates to both cash & bank.That is called
contra entry this can be denoted by puttting 'C" on Both
the sides of the cash book.
 
Is This Answer Correct ?    27 Yes 21 No
Sridharan.v
 
  Re: What is Contra Entry?
Answer
# 9
which accounting entry is recoreded on both the debit and
credit side of the cash book is known as the contra entry
for example if you want to withdrawal some amount from one
bank & deposit same in others account than a contra entry
have to be passed.
 
Is This Answer Correct ?    24 Yes 11 No
Umesh Tayal
 
  Re: What is Contra Entry?
Answer
# 10
THE DEBIT AND CREDIT ASPECTS ARE RECORDED OPPOSIT SIDE IN
THREE COLUMNS CASH BOOK TEHSE CALLED CONTRA ENTRY

IT IS ONELY ACCURED WHEN CASH DEPOSIT IN BANK OR WITHDRAW
FROM BANK
 
Is This Answer Correct ?    21 Yes 23 No
Narasimha Rao
 

 
 
 
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