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what do you mean by contra entry? and where it is used?
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Answer / pradeep
contra entry means the transaction from bank to cash and
cash to bank in F4 in tally.
| Is This Answer Correct ? | 267 Yes | 42 No |
Contra entry refers to entry passed for the transaction
which affects both bank & cash Ledgers and the entry should
be posted to both cash and bank.
In Tally Contra Vouchers included only Ledgers related to
Cash and Bank, & allowed enties related to bank and cash
only eg: Transfer from 1 bank to another bank, Depositing
to bank, withdrawing from bank, & transfering of cash to
petty cash.
| Is This Answer Correct ? | 189 Yes | 29 No |
Answer / trupti
contra entry is passed in following cases
1)when there is a transaction between two different banks
i.e transfer of funds from one bank to another or,
2)cash withdrawn from bank or,
3)cash dedposited in bank or,
| Is This Answer Correct ? | 132 Yes | 27 No |
Answer / mk
contra means a single entry which effect both bank and cash
in a same time .
| Is This Answer Correct ? | 119 Yes | 27 No |
Answer / md sultan raza
contra entry is only used in such type of transaction where
only cash and bank item is affected.In tally F4 is used to
post a contra entry.
| Is This Answer Correct ? | 59 Yes | 16 No |
Answer / hari
Contra Entry occurs both side Dr and Cr.
Eg: Cash to Bank.
Dr Cr
by cash To bank
| Is This Answer Correct ? | 48 Yes | 22 No |
Answer / nandeesh
Where we recorded both the sides means debit and credit
side is called contra. for example cash deposited into
bank, cash withdraw from bank, cash transfer from one bank
account to another bank account.
| Is This Answer Correct ? | 26 Yes | 5 No |
Answer / rajesh
contra entry means the entry which occurs both debit side
and credit side in the three column cash book is called
contra entry.
Gennerally entry occurs in three column cash book
| Is This Answer Correct ? | 34 Yes | 21 No |
Answer / sukhendra
Basicly Contra entry is transaction between cash and bank,
but it also inclosed when two cosucutive entry are passed
for nullyfi a particular entry with same amount,
| Is This Answer Correct ? | 34 Yes | 22 No |
Answer / vikram hiwale
contra entry means depositing cash into bank,withdraw cash
from bank & transfer cash from one bank to another bank.It
mostly used in all sector like company,big
organisation,government organisation etc.In tally we used
this entry contra (F4).
| Is This Answer Correct ? | 21 Yes | 9 No |
Expand ------BPS
(a) Rajesh Ltd. gives you the following information for the year ended 31st March, 2006: (i) Sales for the year Rs. 48, 00, 000. The Company sold goods for cash only. (ii) Cost of goods sold was 75% of sales. (iii) Closing inventory was higher than opening inventory by Rs.50,000. (iv) Trade creditors on 31.3.2006 exceed the outstanding on 31-3.2005 by Rs. 1, 00, 000. (v) Tax paid during the year amounts to Rs. 1, 50, 000. (vi) Amounts paid to Trade creditors during the year Rs. 35, 50, 000. (vii) Administrative and Selling expenses paid Rs. 3, 60, 000. (viii)One new machinery was acquired in December, 2005 for Rs. 6, 00, 000. (ix)Dividend paid during the year Rs. 1,20, 000. (x)Cash in hand and at Bank on 31.3.2006 Rs. 70, 000. (xi) Cash in hand and at Bank on 1. 4.2005 Rs. 50, 000. Prepare Cash Flow Statement for the year ended 31.3.2006 as per the prescribed Accounting Standard. (b) Define the teen "Operating Activities", "Investment Activities" and "Financing Activities" as per NA S-3 Send me this question answer in my mail Address please help me to how solve the question ( deepakgaire@gmail.com) plese plese
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