Interested to Buy Any Domain ? << Click Here >> for more details...
give narration of
cash----a/c---Dr
To cash
- 1 Answers
- 6039 Views
- Hindalco, I also Faced
- E-Mail Answers
Answer Posted / chalapathi rao govada
As per the accounting principles one is not suppose to use
the same account name in that account.
As per as my knowledge is concern there is only one
possiblity to come accross this situation ie contra entries
in the bank and cash columns cash book.
1.when cash is deposited into Bank.
2.when cash is withdrawn from the bank.
3.Deposit of checks which are recorded as a cash receipt in
the eralier days.
WE are giving both the DR and CR to the cash book
(Specifically DR/CR to cash and DR/CR to Bank).
I think this is the possible situation. Pls let me also
know if you find any different answer to this question.
For your information i am a CA, ICWA qualified with two all
india Ranks.To be frank i didnt come accorss any possible
answer, i belive in one thing if some thing which is not
know you can learn from a bcom guy also if he has a valid
point.
thx
RAO 9703200360
| Is This Answer Correct ? | 7 Yes | 2 No |
Post New Answer View All Answers
I've just started to work as an accounts executive and intending to take up SAP. Can anyone tell me what are the preparations required for me as an accountant to be a successful SAP consultant.
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
whether unsecured loans written off can be transferred directly to capital reserve without crediting it to profit and loss account
how standard costing techniques are applied in manufacturing sectors
Why does one need a broker?
outstanding expenses, prepaid or unexpired expenses
WHAT IS THE PROFILE OF FINANCE EXECUTIVE IN TEXTILE INDUSTRY
i am a mba fresher and i'm learning oracle finance.please give me ur valueble suggetions about my career in oracle finance? what r the requirements 2 get a good job in time?
Explain Cash Basis of accounting
Hi, I am doing Data Entry jobs in Accounts. please let me know "How to maintain Medical stores accounts"?
sort out the difference between service provider & service reciepient from the service tax.
How will be prepare invoice in tally, please tell me step by step
Classify bank account, stock of stationary account, returns inward account ou$tstanding rent account and capital account into real, personal and nominal account.
what happens to each of the three primary financial statements when capital expenditures decrease?
What are the duties of sales tax department? Explain it
