what do you mean by contra entry? and where it is used?
- 34 Answers
- 112047 Views
- Accenture, AXA, L&T, I also Faced
- E-Mail Answers
Answer Posted / rajinder dhawan
In Oracle:
Contra Entry Means GL Contra Entry and there below
entries are passing.
Funds in Transit Dr xxxxxx ( Bank Account)
To cash collection.
This entry depends ib Fund in Transit and Cash in Transit.
| Is This Answer Correct ? | 9 Yes | 27 No |
Post New Answer View All Answers
Hi, Please post in here the Aptitude Test Questions given in companies like Thomson, Reuters, GMS, JP Morgan, Northern Trust Bank etc.
What is the Accounts Payable & Accounts Receivable ?
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
what is your achievements?
i want to know the TDS deduction Chart for 2008/09 Eg : professional fee ,contractors ,subcontroctors. rent . ............
You are required to show the effect of each of the following changes on profit and Break-Even-Volume from the information given below: Sales 50,000 units Rs. 5.00 per unit Variable cost Rs. 3.00 per unit Fixed cost Rs. 70,000 Changes: (i) Price changes by 20%. (ii) Volume decreases to 40,000 units. (iii) Variable cost increases to Rs 3.50 per unit. (iv) Fixed cost decreases by 10%.
im preparing for the sbi clerical post please send me the solved questions.
hi.this krishan .i m slect in axis bank for executive. when i sposse to join
what is tds rate of WCT applay for sale tax ragistard company.
Please send the clerical exam questions and answers to my mail Id pinky18.02.1985@gmail.com
For the production of 10,000 units the following are the budgeting expenses: Per Unit Rs. Direct materials 60 Direct labour 30 Variable overhead 25 Fixed overhead (Rs.1,50,000) 15 Selling expenses (10% fixed) 15 Variable expenses (direct) 5 Administrative expenses (Rs.50,000 fixed) 5 Distribution expenses (20% fixed) 5 Total cost of sales per unit 160 Prepare the flexible budget for the production of 6,000 , 7,000 ,and 8,000 units of production
Can anybody send me Interview questions & Answers to me IN Accounts & finance my Mail ID - virupaksha_krt@rediffmail.com
we want all sbi previous questions papers in our e.mail krishna2043 on yahoo
please send me last 3 years question & solution
SOUTH ATLANTIC OIL AND GAS INC.is a fraud company
