what is Contra Entry?

Answer Posted / priyanka

Contra entry is one which is recorded in the both side of
the Three column cash book by indicating capital 'C'in L.F
column. It is recorded only when on of the below entry is
happend. Such as
1. When cash deposited in to bank.
2. When cash withdrawl frOm bank.

Is This Answer Correct ?    12 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Indian Iran Gas pipeline

1710


are there any sub-types of the 4 main types of bank accounts ?.........if yes what are they?

2003


Short Answer on __________written Down value

1521


What is the working formula for Working Capital Turnover

1670


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

1632






Short Answer on __________Leverage

1604


What is Free Cash?

1768


what is ledger account

1623


please give the sbi bank clerk exam paper model in last five years?

1776


Raju put labour charges bill for Rs 65000/- You are directed to deduct 5% security deposit and 1.15% TDS from the bill. Pass journal entry for it

1758


What is Financial planning?

1616


What are direct income and indirect income

1580


Sales for ABC Company were Rs.150,000 for 2003.The beginning inventory was 30% of the cost of goods sold.The ending inventory was 50% of the beginning invetory.Selling expenses were 10% of sales and absorbed 30% sales.Income taxes were 30% of net income before taxes.

1666


what are the type of cash flows?

2296


reason for difference in Balance sheet (Asset side & Liabilites side)

1569