What is Contra Entry?

Answer Posted / rajesh

the entry which occurs both debit side and credit side in
the three column cash book is called contra entry.

ex: cash paid to bank
bank account dr
to cash account

Is This Answer Correct ?    56 Yes 17 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Ledger Is The Principle Book Of Accounts In Business. Do You Agree For It. Comment On Your Confirmation?

1679


What is Hot Issue Income for Hedge Funds?

8247


What is the relationship between, issued share capital, share premium and paid up capital?

1902


What is meant by advance ruling? What is the scheme of advance rulings?

1559


Who to create a budget on software company

1630






Expand----------SAMC

1626


what are the type of cash flows?

2296


HOW TO PASTE MORE THAN 8 PO'S (PURCHASE ORDER) IN MM posting?

1567


What is contract accounting?

1858


what is debit/credit note ? what deffered income and expencess?

2297


Purchased goods worth @25000 at 10% trade discount from seven who paid 200/- as carriage on behalf of prabhakar

1632


hi guys, pls refer me how to preppare for Indian Bank exams.

1964


please explain the uses of internate protocol address(ip add)?

1695


why did rbi hiked repo and reverse ratio and how it will effect the market

1388


1.provide a brief write up on why you consider yourself suitable for the post voting your major achievements? 2. Mention your position in the hierarchy and the levels above and below you ?

1155