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Give Journal Entry for "Interest Received from Bank"
and give description with Accounting rules
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Answer / khushi kaur
Bank a/c........Dr.
To bank interest received a/c
(being bank interest received)
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / vineegautam.gautam
cash a/c........dr
to bank a/c
(being interest recived from bank)
debit which comes in
and credited which goes out
| Is This Answer Correct ? | 3 Yes | 25 No |
Answer / prasad
Interesta/c Debit
Bank a/c Credit
( Being Interest received from Bank)
| Is This Answer Correct ? | 8 Yes | 44 No |
Answer / unnikrishnan
interest A/c Dr
BANK Cr.
debit what comes in
credit the giver
am i right
| Is This Answer Correct ? | 6 Yes | 44 No |
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IN ONE OF THE MAUNUFACTURING COMPANY, THE MANAGMENT WAS VERY MUCH INTERESTED TO INTRODUCE ERP(IT IS FOREIGN SOFTWARE)BASED ON SOME ATTRACTIVE FEATURES EXPLAINED BY THE ERP SOFT WARE COMPANY/AGENCY . THE ACCOUNTING STAFF ARE ALL CONVERCENT WITH TALLY ACCOUNTING PACKAGE(INDIAN ACCOUNTING METHOD). THEREFORE THEY WOULD LIKE TO KNOW THAT (I) WHAT ARE THE DIFFERENCE BETWEEN A TRIAL BALANCE FROM NORMAL TALLY ACCOUNTING AND ERP GENREATED TRIAL BALANCE (2) SINCE THE BOTH THE TRIAL BALANCE WILL BE HAVING DIFFEERENT DATAS HOW SOME ONE CAN MAKE A FINAL ACCOUNT SUCH AS TRADING A/C PROFIT & LOSS ACCOUNT AND BALANCE SHEET AS PER INDIAN COMPANIES ACT. THE TRIAL BALANCE AS PER ERP SHOW SOME COST OF PRODCUTION A/C, LABOUR/MATERIAL/VALUE VARIANCE A/C. SAY ALL THESE VARIANCE ARE CORRECT AND BASED ON THE ACTUAL TRANSACTION TAKEN PLACE, HOW SOMEONE CAN A FINAL ACCOUNT MEANT FOR INDIAN ACCOUNTING POLICY WHICH TO BE SUBMITTED TO VARIOUS GOVT BODIES? I AM TOTALLY CONFUSED
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commision of rs-150 paid but charged to interest account,journal entry
Audit 
