what is the meaning of contra, give the example
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Answer / guest
All bank to cash, cash to bank , bank to bank transactions
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Answer / ravi
All Bank to Bank , Cash to Bank , Bank to Bank Transaction
are Contra
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contra entry is an entry in which opposite entry is posted &
it should be posted on both sides of three column cash
book.It occurs in case of two transactions namley :
when cash deposited into bank
Bank a/c ......Dr
To cash A/c
when cash withdrawn from bank
cash a/c ..........Dr
To Bank a/c
| Is This Answer Correct ? | 3 Yes | 1 No |
Answer / harikrishna
contra is dual account meaning is cash to bank and bank to
cash transaction is shown on contra.
contra is a one of the main part off day to day transactions
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Answer / sneha
CONTRA IS NOTHING BUT GIVING & RECEIVING EG:CASH SALES
DEPOSITED INTO BANK.THE ENTRY IS
BANK A/C------------------------
TO CASH A/C
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