Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / naresh
Contra Entry is the entry which related to only two
accounts that are bank and cash.
Means only if cash withdrawl or deposite in the bank only
and bank debit or credit only cash that entry is called
contra entry.
Ex-- By Bank A/c Dr.
To Cash A/c Cr.
And
By Cash A/c Dr.
To Bank A/c Cr.
| Is This Answer Correct ? | 5 Yes | 4 No |
Post New Answer View All Answers
what are the steps used in UAT in Oracle Apps?
The partners agreed to take hero honda vehicle of Rams as firms vehicle by giving credit to his capital account. The vehicle was valued for Rs 65000/-Pass necessary entry
I want to know how to get Appeared to the examination of State bank of India. And how can i find the question Book Series.
what is Contra Asset?
what is sales life cycle???
During Cutover Activities of New SAP Implementing Company what we have upload for Closed Fiscal year (that means Legasy to SAP ) Balance sheet or Trial Balance , What is the difference of the Both?
While we are bringing our machinery items to factory through a vehicle from other state to Andhra pradesh, is this correct to send our own state way bill along with the other state way bill.
why funds management doc is generated during migo and miro
objective of accounting
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.
last date of tds deposit yearly,tds proforma challan
Hi, I am doing Data Entry jobs in Accounts. please let me know "How to maintain Medical stores accounts"?
What is the difference between income statement & Profit&loss A/c?
why do you think you are sutable candidate for this post
What is the procedure to take loan
