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What is Contra Entry?
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Answer / salimpasha
which accounting entry is recoreded on both the debit and
credit side of the cash book is known as the contra entry
there's no increase&decrease in the overall amount
| Is This Answer Correct ? | 5 Yes | 6 No |
Answer / anand n r hassan
contra entry an entry appears in both the ledger cash and
bank book is called as cantra entry.
Examples: 1 cash depositted in to bank
2 cash with drawn from the bank
3 fun tranfer from one bank another bank
| Is This Answer Correct ? | 3 Yes | 4 No |
Answer / rajesh
In three column cash book which are entry recored in cash &
also Bank column are call contar entry . Ex:- bank over
darft (BOD)
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / subhajit ghosh
contra is simple i.c.if cash paid to bank that why cash goseout cash credit,bank comes-in bank debit.asset comein debit,assete goseout credit.cash book double entry (c).
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / varsha
A single transaction entered into both side of three colum
of cash book.
| Is This Answer Correct ? | 2 Yes | 5 No |
Answer / ajay
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 ? | 1 Yes | 4 No |
New emlpoyee was joined on 15th Jan and salary paid on 28th Feb amt of Rs.20000/- and asked to give the Journal entry for the Month of Jan, Fed and March (His Monthly Salary is Rs.8000/-) ?
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DEAR ALL, HOW TO ACCOUNT THE SALARY ADVANCE A/c. I HAVE TAKEN AN ADVANCE OF Rs.25000/-. I HAVE DEBITED SALARIES ADVANCE A/c AND CREDITED THE PETTY CASH A/c in TALLY. I dont't know whether it is correct or not. If correct, in my individual ledger no entry is reflected. Alternatively, if I debit my self and credit petty cash a/c it is reflected in the P & L Account, but it is not an expense. and not reflected in the balance sheet, but reflected in P & L. I think I need to put a journal entry. Like debiting the salary account and crediting the salary advance account. Is this correct or not? Can any one help me please. my mail add: cdvijay100@yahoo.co.in or kmlnkml@live.com
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