1. Categories >> Accounting >> Accounting General
  2. Suggest New Category

what is journal entry for "Interest allowed by bank" and where does it come in pass book??

Question Posted / raghavendra

Answers were Sorted based on User's Feedback



what is journal entry for "Interest allowed by bank" and where does it come in pass book??..

Answer / answerer

The journal entry for interest allowed by bank is:-

bank a/c.....Dr
To interest a/c


In the pass book, the interest is shown on the credit side.


financeaccountingsimplified.com

Is This Answer Correct ?    57 Yes 5 No

what is journal entry for "Interest allowed by bank" and where does it come in pass book??..

Answer / satish

Assume that interest paid by bank

In pass book it shows "interest" on credit side.

In the books of company journal entry is :-

Bank a/c ..Dr rs.50/-
To interest(indirect income) a/c... Rs.50/-

Is This Answer Correct ?    36 Yes 5 No

what is journal entry for "Interest allowed by bank" and where does it come in pass book??..

Answer / shivangi

Bank A/c Dr.
intt. received A/c. Cr.
(intt received from bank)

passbook - intt. will shown on credit side.

Is This Answer Correct ?    24 Yes 5 No

what is journal entry for "Interest allowed by bank" and where does it come in pass book??..

Answer / vivekpal

Bank A/c Dr
To interest allowed A/c

Is This Answer Correct ?    4 Yes 1 No

what is journal entry for "Interest allowed by bank" and where does it come in pass book??..

Answer / answerer

The journal entry for interest allowed by bank is:-

cash a/c.....Dr
To interest a/c

In the pass book, the interest is shown on the credit side.


financeaccountingsimplified.com

Is This Answer Correct ?    4 Yes 22 No

what is journal entry for "Interest allowed by bank" and where does it come in pass book??..

Answer / shivam

Interest a/c......... Dr.
To bank a/c

Is This Answer Correct ?    4 Yes 22 No

Post New Answer

More Accounting General Interview Questions

A non-function currency claim:- Employee while updating a non functional currency claim the system uses the period end rate i.e. any claim pertaining to the period 01Aug - 25th Aug. the system uses the period end rate as of July 31st. (2) Also, what is the basis of using the period end rate not the average rate for expenses claim. Can you please clarify my question.

0 Answers  

Definition of accounts payable

3 Answers   Genpact, Infosys, MNC, TATA,

what is the difference between back order and partial shipments?

1 Answers  

what is capital and revenue expenditure

2 Answers  

Home furniture sold goods to Jhon for 150000 on 10th march 2015, due to damage occured in transmit rs 20000 worth of goods have been returned on 16th march 2015. What is the journal entry for both the instances ?

2 Answers   NA,




I have an interview in a software company for the post of Functional test engineer. They want the person from bcom Back ground( i am a bcome graduate 2006) and the person Should have good accounts knowledge. Now i want to know What kinds of questions they can ask or can give in written Test. I m nervous coz its been 5 years i have done bcom. So How shud i prepare for interview.Please help?

0 Answers   Manufacturing, STG,

What is Balance sheet?

3 Answers   EDS,

What does mean is Profit & Loss Account Shows Debit Balance in Trail Balance ?

6 Answers  

what is "goodwill" reserve and surplus and reserve with example

0 Answers  

how to calculate accrued interest on fdr?how to see from bank statement????basic procedure plz advice..

0 Answers  

What do you think is a bank reconciliation statement?

0 Answers  

What Does Hedgelet Mean?

1 Answers   Deloitte,

For more Accounting General Interview Questions Click Here
Categories