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What is Contra Entry?
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Answer / farhad khan afridi
contra entry is the entry which has effected both bank
account and cash account.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / binoy saha
Contra entry is very simple.Bank & Cash Account reletade.Use
only double & treble column book keeping system.Effect of
both side (dr.& cr.).These called Contra entry.
Such as : Cash deposit to bank tk 10000.00
Bank Account Dr.
Cash Account Cr.
This is Contra Entry.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / mukesh prajapati
when the transaction of the cash capital flows from one end
to another end as remain same but it is entered in both
side of the cash book due to flow;i.e cash to cash,cash to
bank transfer,bank to cash,bank to bank ,it is called
contra entry.
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Answer / gyan
Contra entry.This can be passed only in three column cash
book. Some transactions are recorded in three column cash
book.which relates to both cash & bank.That is called
contra entry this can be denoted by puttting 'C" on Both
the sides of the cash book.
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Answer / fredrick
its when some transactions of a three column cash book
affect one another in such a manner that an increase in one
will lead to an equal decrease in the other.this affects
cash and bank,when cash is deposited to the bank ,the bank
gains whereas the cash reduces by the same figure.
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Answer / a.santosh
which accounting entry is recorded on both the debit and credit side of the cashbook is known as the contra entry.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / shola
Is a transaction that appears dual (i.e appeared in two column)
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Answer / narasimha rao
THE DEBIT AND CREDIT ASPECTS ARE RECORDED OPPOSIT SIDE IN
THREE COLUMNS CASH BOOK TEHSE CALLED CONTRA ENTRY
IT IS ONELY ACCURED WHEN CASH DEPOSIT IN BANK OR WITHDRAW
FROM BANK
| Is This Answer Correct ? | 22 Yes | 23 No |
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42. G.Simkins sends back stock to J.J. Fabrics (a supplier), having originally purchased it on Credit. J.J. fabrics issued a Credit note for the value of these goods. In simkins’ books, the double entry for this transaction should be. a) Debit : J.J. Fabrics; Credit purchases b) Debit : purchases; credit J.J. Fabrics c) Debit : J.J. Fabrics; credit purchase returns d) Debit: purchases returns; credit J.J Fabrics.
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