Answer / praveen kumar

contra entry is use in two conditions only cash with drawn
from bank for office use only

2. cash deposited in to the bank for office use only

Answer / k k ganguly

Conta is Entry Which is use that time when Cash Withdrow or
Deposited into bank. its passed on the time of cash
withdrow cash book is dr & Bank a/c is Cr Simple

Answer / balaji

contra entry is one where there has to be two corresponding entries for one transaction. when cash is deposited into bank, bank balance increases and cash balance decreases. in a multi column cash book, two corresponding entries has to be passed.

Answer / srinivas annavarapu

Contra entry is that where there will not be any effect in
TB.

For ex: Cash of Rs.1000/- deposited in Bank
in this case cash balance is decreased by Rs1000/- and at
the same time Bank balance is increased by Rs.1000/-. As
such there is no difference in your liquid balance.

Answer / vijay bhaskar reddy(vijji_tv@y

It is the entry which effected the both sides in cash book.
It is occured in three times, i.e., 1.Cash deposited in to
bank, 2.Cash withdrawn from the bank for office use, and
3.Receivable cheque deposited in to the bank in another day.

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Liabilities: 2006 2007 Assets 2006 2007 Trade Creditiors 100 40 Cash atBank 100 65 Bills Payable 50 60 Account/R 105 120 Outstanding Expenses 25 20 B/R 130 140 Bonds Payable 220 140 Inventory 110 40 Accumulated Depreciation: Machinery 120 160 -on Machinery 30 35 Building 300 310 -On Building 75 85 Land 60 130 Reserves 100 115 Patents 55 60 Retained Earning 130 170 share Capital 250 360 Profit from operation after providing Rs.10,000as depreciation on building and Rs.10,000 on machinery and Rs.5,000 as amortization on patents for the year 'April 06- March07' was Rs.35,000. Other revenues for the year were Rs.40,000. An old machine with original cost of Rs.15,000 was sold at a loss of rs.5,000. Prepare Fund Flow Statment and Cash Flow Statment for the year ending March 31 2007 based on the information given above.

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