if the chq is dishonored which entry will be passed????????
give example entry
Answers were Sorted based on User's Feedback
Answer / sandeep
Before a cheque get issued, they will pass a entry saying,
Vendor A/c Dr...
Bank A/c...........
When its been dishonored by bank, the entry will be:
Bank A/c Dr....
To vendor A/c
(no cash fluctuation will hit to both a/'c, the difference between bank and cash a/c will be found through BRS, after passing the reconciliation entry, both the a/c's will get equal...
Thanks,
Is This Answer Correct ? | 5 Yes | 1 No |
Answer / snikgdha
BANK CHARGES A/C DR
TO CUSTOMER A/C
( BEING INSTRUMENT NO....DISHONORED CHQ AND BANK CHARGES.)
Is This Answer Correct ? | 0 Yes | 0 No |
Party Dr. 1.00
To Bank A/c 1.00
(Cheque No…….. Being Cheque return against invoice No./Bill
No…………………….)
Is This Answer Correct ? | 3 Yes | 4 No |
Answer / sreedhar
Point No 1.
when received the cheque from Debtor/customer to be
accounted as
Bank account Dr
To Debtor/Customer Account
(Being Chque No XXXX received against bill Number XXXXX)
Point No. 2
if the same cheque dishonored, the above entry to be
reversed
Debtor/Customer account Dr
Bank Charges Account Dr
To Bank Account
(Being instrument No.XXXX Dishonored and Bank Charges
Accounted)
Is This Answer Correct ? | 0 Yes | 1 No |
If we purchase machinery from gujarat ie from cst supplier & we have to give them 'c' form what should be the entry for the same.
what is consignment entry?
In which expense we book the expense related to certification of ISO 9001 certificate & consultant fee.
Define the accounting entries for payments
What is the Account Receviable for Airport?
WHAT IS THE ENTRY FOR BOOKING PROVISION...? IS IT COMPULSARY FOR BOOKING PROVSION IN ACCOUNTING?
what is mutual fund?
What is good accounts Process & Execution capabilities?
Accounting for vc money in financials
How to treat TDS on salary in book of Accounts?
who are bulls and bears investors
please tell me what is journal entry for salary: Gross Salary 10000 and net salary 75000.