Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / keshab ch. bhanja
Contra entry is one which is recorded in the both side of
the Three column cash book by indicating capital 'C'in L.F
column. It is recorded only when on of the below entry is
happend. Such as
1. When cash deposited in to bank.
2. When cash withdrawl form bank.
| Is This Answer Correct ? | 26 Yes | 0 No |
Post New Answer View All Answers
Apportionment of expenses
a company recive 5 demand draft in different parties 2 DD sumittted to bank for collection and it's collected. what is the closing entry of other 3 DD in the company on that date?
journal entry for prepaid insurance and salary outstanding
Can you name different branches of accounting?
Case Study: Deepak Hand tools Private Limited DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
in Sensex and Nifty, what is the measure to take the points
Under Accrual Accounting, How Are Worker Comp Premiums Handled?
What is fbt (fringe benefit tax)?
journal entry for goodwill and capital bought by a new partner?
What is batch input? why we use batch input session in SAP(FICO)?
What is the logic behind this entry P & L Appropriation A/c ..........Dr. To Provision for income tax A/c
Who uses accounting?
Under what type of account do the unearned revenues fall?
is there is mentioned that we can adjust excess debtors with creditor in the stock statement while calculating Drawing Power
Tell me why do you apply for a job of an account executive?
