Answer / jagdish

the transaction from bank to cash and cash to bank is
called contra entry

Answer / rabindra kumar mallick

The entry directly inter related to both cash & bank i.e.
Cash deposited & withdrawn from bank, Funds transfered from
one bank to Another bank.

Answer / pradnya

Contra entry includes following transactions :
1) Cash to Cash
2) Bank to Bank
3) Cash to Bank
4) Bank to Cash

Answer / swetha

this can be seen in three column cash book when the
transaction happen between company cash and bank.

ex:company deposited cash in bank

Answer / thakor

contra entry means the entry in which effect came in to
cashbook and in bank only

Answer / sarada

As per accounting rules, contra entry is a transaction
indicating transfer of funds from
Cash account to Bank account.
Bank account to Cash account.
One Bank account to another Bank account.
One Cash account to another Cash account.

Answer / vinay kumar . pagidikondala

which accounting entry recorded on both sides of the cash
book ( Debit side & Credit side) of the cash book is known
as Contra entry.
Contra entry will come on the picture only when
cash deposited at bank or cash withdrawn from the bank.

pvinay0910@gmail.com

Answer / deepak

We can see contra entry in three coloumn cash book when
transaction are made between a company or firm and bank.

Ex: cash draw in bank by company or firm

Answer / varun

contra entry means both side related translation cash to bank bank to cash that is also called contra

Answer / naresh kumar

contra entry is an entry were it is effected in two sides
of accounts i.e. in bank book as well as cash book. it will
b like cash to bank, bank to cash.

journal

2 Answers   Bank Of America,

Tell me what is trial balance in accounting?

0 Answers  

how to posting tally esi employer contribution and pf employer contibution not included in salary

1 Answers  

in which voucher we can enter the depreciation entry

2 Answers  

i have pay to 250000 excise duty so i ask to all how can maintain entry in tally ?

0 Answers  

If a company Purchased Cotton Waste.. it comes under which expense/ how to treat in account

3 Answers  

what is proviosion for bad debts and provision for bad and doubtfull debts

4 Answers   Genpact,

DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in haryana. The company's sales in the year ending on 31st march 2007 were Rs.1000 million(Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of the company is 14 percent.The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30 million per annum. The plant can be sold for Rs.200 million: (a) The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annum installment of interest and repayment of principal. (b) A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: (1) Should the company expand its capacity? show the computation of NPV. (2) What is the annual installment of bank loan? (3) calculate the quarterly installment of the financial institution loan. (4) should the company borrow from the bank of from the financial institution?

0 Answers  

what is journal entry for cash received

11 Answers  

how we will account the preliminary expenses in journal and ledger as well as balance sheet?

5 Answers  

Ledger

2 Answers   Bank Of America,

What is Contigent Libilites

4 Answers   Genpact,