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Answer Posted / vijaykant
Conta entry takes place in three occassion
1) when cash is withdrawn from bank
Cash A/C Dr.
To Bank A/c Cr.
2) when cash is deposited in bank &
Bank A/C Dr.
To Cash A/c Cr.
3) branch transfer takes place from one branch to another.
Bank 1 A/c Dr. 20000
TO Bank 2 A/c Cr. 20000
( In this case amount of 20000 is transferred from Bank 2
to Bank 1)
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swagat staryed business on 1st jan 2005 with cash on hand Rs. 10000
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pass journal entries of the following transaction in the books of AG sindh, AGPR,FTO and SBP: 1)DDo sindh house submitted a bill for purchase of furniture to AGPR islamabad for Rs.200000 on 20th March 09; 2)AGPR issued cheque on 2nd april which was cleared by SBP on 5th April; 3)On 26th may, voucher were exchanged in the clearing house; 4)On 28th May, AG sindh issued advise to settlement to SBP karachi; 5)On 5th june,SBP HQ karachi sends a copy of clearnce memo along with bank statement to AG sindh and AGPR for settlement made on 31st May.
