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What is Contra Entry?

Answers were Sorted based on User's Feedback



What is Contra Entry?..

Answer / amir

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 ?    342 Yes 39 No

What is Contra Entry?..

Answer / mahmood

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 ?    185 Yes 31 No

What is Contra Entry?..

Answer / ritesh baranwal

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 ?    125 Yes 19 No

What is Contra Entry?..

Answer / sureshkumar

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 ?    92 Yes 25 No

What is Contra Entry?..

Answer / mahesh babu

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 ?    74 Yes 23 No

What is Contra Entry?..

Answer / rajesh

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 ?    56 Yes 17 No

What is Contra Entry?..

Answer / suman

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 ?    93 Yes 66 No

What is Contra Entry?..

Answer / nagesh gadkar

Contra entry is passed on following condition.
The Cash Transaction should be between Cash to Cash, Cash
to Bank, Bank to Bank or Bank to cash.

1) When we Cash deposited in to Bank or
Bank A/c................Dr
To Cash a/c

2) When we Cash withdrawn from Bank or
Cash A/c.................Dr
To Bank A/c

3) When Cash transferred From One Bank(SBI) to
(HDFC)Another Bank or
HDFC Bank A/c...........Dr
To SBI Bank A/c


4) When Cash transferred from main Cash to Petty Cash.
Petty Cash A/c.............Dr
To Cash A/c

Is This Answer Correct ?    25 Yes 5 No

What is Contra Entry?..

Answer / umesh tayal

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 ?    30 Yes 12 No

What is Contra Entry?..

Answer / sridharan.v

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 ?    31 Yes 23 No

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