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What Entries come under Bank OCC A/c. & Bank OD A/c. ?
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Bank OCC-Open Cash Credit
Bank Od-Over draft
Both are loan accounts
Always Bank OCC or OD accounts shows Credit Balance
Bank current account will always show Debit Balance
You will come across Interest on loan account in Loan
account and where as you will not find such entry
| Is This Answer Correct ? | 160 Yes | 12 No |
Answer / rajith
bank a/c dr
to bank od cr
bank od a/c dr
to bank a/c
bank occ a/c dr
to bank a/c
| Is This Answer Correct ? | 42 Yes | 16 No |
Answer / madhu bala
Bank OCC -Open Cash Credit
Bank OD - Overdraft
Both Account shows Credit balance
We can withdraw money but pay some charges as per bank conditions
| Is This Answer Correct ? | 17 Yes | 2 No |
Answer / pavithra kirubanandhan
OCC facility avail only against your Current Assets But OD facility avail against your deposits
| Is This Answer Correct ? | 3 Yes | 4 No |
Answer / virender
BOTH ARE USED FOR THE BANK LIMITS
AS THE NAME OCC YOU CAN WITHDRWA AMT.
INTT. WILL BE TAKEN ON WITHDRAWAL
OCC, OD A/C BOTH WILL ALWAYS CR.
O FOR OPEN
C FOR CREDIT
C FOR CREDIT
O FOR OVER
D FOR DRAFT
| Is This Answer Correct ? | 19 Yes | 48 No |
EXPAND_________WS&SB
Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
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