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give narration of
cash----a/c---Dr
To cash
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Answer Posted / chalapathi rao govada
As per the accounting principles one is not suppose to use
the same account name in that account.
As per as my knowledge is concern there is only one
possiblity to come accross this situation ie contra entries
in the bank and cash columns cash book.
1.when cash is deposited into Bank.
2.when cash is withdrawn from the bank.
3.Deposit of checks which are recorded as a cash receipt in
the eralier days.
WE are giving both the DR and CR to the cash book
(Specifically DR/CR to cash and DR/CR to Bank).
I think this is the possible situation. Pls let me also
know if you find any different answer to this question.
For your information i am a CA, ICWA qualified with two all
india Ranks.To be frank i didnt come accorss any possible
answer, i belive in one thing if some thing which is not
know you can learn from a bcom guy also if he has a valid
point.
thx
RAO 9703200360
| Is This Answer Correct ? | 7 Yes | 2 No |
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