what do you mean by contra entry? and where it is used?
- 34 Answers
- 100281 Views
- Accenture, AXA, L&T, I also Faced
- E-Mail Answers
Answer Posted / sarfraz khan
CONTRA IS A ENTRY VOUCHER IN ACCOUNTANCY WHICH MANTAIN THE
RECORD OF ALL ENTRIES RELATED TO BANK TO CASH, CASH TO
BANK, OR TRANSFER THE ACCOUNT EITHER BY CHECK OR CASH TO
BANK OR VICE VERSA OF THE CONCENRED COMPANY.AND INTERNAL
BANK TRANSFER OF THE SAME COMPANY.
| Is This Answer Correct ? | 0 Yes | 1 No |
Post New Answer View All Answers
emplementation of accounting standerds in Bangladesh, developing or copieng?
what are the different causes for discrepencybetween the balance of cash book and pass book
plz tell me the finance questions asked in hsbc latest question asked in hsbc?
.,can someone tell me how to compute the subscribed capital share?
Expand---------DEP
Sir i am working in 3 star hotel as a senior accountant i need some general letter drafts pleas do the need ful
Could u show me the sample TDS Document / Template
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 Spin-off & spilts
what is Sums on Finalization of Accounts?
How to increase our credit rating score quickly?
What is ABC Analysis in industrial function. hw can it s maintain ?
What is the difference between Balance Sheet , Chart Of Accounts and trial Balance?
what is new updates in account
state and explain THREE types of situation to which accounting concept might be applicable
