what is a contra entry how it is passed in journal and
cashbook
Answers were Sorted based on User's Feedback
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
Is This Answer Correct ? | 13 Yes | 3 No |
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
Is This Answer Correct ? | 5 Yes | 2 No |
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.
Is This Answer Correct ? | 1 Yes | 0 No |
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bank, 2.Cash withdrawn from the bank for office use, and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.
Is This Answer Correct ? | 0 Yes | 0 No |
Received cheque Rs 250000 which is exclusive of 5% Security deposit 2.24% income tax and i% miscellaneous recovery. Pass necessary entry
Where we show Service Tax Receipt ( Credit Balance ) in Balance Sheet?
Expand------------RST
What is Mean By Defered Tax, How To Calculate?
An applicant paid excess amount to the Government Office through a demand draft for a particular permission/license instead of actual fees. Later he went to government office and requested to return the previously submitted demand draft. Can he get back the Previously submitted demand draft(which was not adjusted into government account) duly paying he actual fee?
what is mean by Red herrting
Difference between single and double entry?
what is open item management?
Which points are include and which point are exclude from Bank Reconciliation (balance as per our book)?
What is the uses of invoices? how many types of invoices, and difference between invoice and voucher, invoice and bill?
what is the accounting treatemnt for issuing material to a subcontractor on recovery basis?
Define bank Overdraft