Give Journal Entry for "Interest Received from Bank" and give descrip

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Give Journal Entry for "Interest Received from Bank"
and give description with Accounting rules

Question Posted / arshad

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Give Journal Entry for "Interest Received from Bank" and give description with Accounting..

Answer / shiva kumar

bank a/c
interest received

Is This Answer Correct ?

2 Yes

0 No

Give Journal Entry for "Interest Received from Bank" and give description with Accounting..

Answer / fayas

bank account Dr
To Interest
(Interest received from bank)

Is This Answer Correct ?

2 Yes

1 No

Give Journal Entry for "Interest Received from Bank" and give description with Accounting..

Answer / avinandan bose

Dr. Cr.
Date Particulars Rs. Rs.
d/m/y Bank A/C-----Dr. XXX
Interest Recieved A/C XXX
(Being Interest recieved
from Bank)
According to Golden Rules:-
1.Interest Recieved:- Nominal A/C,Income,Credit.
2.Bank A/C :- Real A/C ,comes in, Debit.

Is This Answer Correct ?

1 Yes

0 No

Give Journal Entry for "Interest Received from Bank" and give description with Accounting..

Answer / jitesh arora

Bank A/c-Dr
To Interest-Cr

(Being Int. Recd. From Bank)

(REASON-BECAUSE Interest comes in bank account so bank will be debited. so the rule is when cash,interest,cheque of parties comes in bank a/c then this case the bank will be debited)
Debit the reciever & Credit the giver.

Is This Answer Correct ?

1 Yes

0 No

Give Journal Entry for "Interest Received from Bank" and give description with Accounting..

Answer / varun adhikari

Bank A/C Dr.
To Interest Income A/C.
(Being interest received)

Is This Answer Correct ?

1 Yes

0 No

Give Journal Entry for "Interest Received from Bank" and give description with Accounting..

Answer / javad khan

some guyz here they had posted entry as
(eg:1) Interest A/C-dr (eg:2) salary ac/c-dr
to cash to cash a/c
(being salary paid)

dont u think the above posted entry is of interest paid not received...so the entry for interest received is
Bank/cash a/c --dr
to interest.

Is This Answer Correct ?

1 Yes

1 No

Give Journal Entry for "Interest Received from Bank" and give description with Accounting..

Answer / m.a.sajid khan

Bank a/c .... Dr. (real Account)
interest A/c ...Cr.(Nominal Account)

Real Account:-Dr. What comes in and Cr.What goes out
Nominal Account:- Dr. All Expenses and Losses Cr. All in
come and gains.

Is This Answer Correct ?

1 Yes

1 No

Give Journal Entry for "Interest Received from Bank" and give description with Accounting..

Answer / sandip mukharjee

Bank A/C.....Dr.
To Interest Received A/C......Cr.

Is This Answer Correct ?

0 Yes

0 No

Give Journal Entry for "Interest Received from Bank" and give description with Accounting..

Answer / harish maurya

BANK A/C ------ DR.
TO INTEREST RECEIVED A/C
((BEING INT.RECEIVED FROM BANK)