Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / ammu
In the three column cash book there will be some cross or
contra entries i.e., transfer of money from cash to bank
(amount deposited) and vice versa (amount withdrawn from
bank for office use). In all such cases both entries occur
in the cash book and no ledger entry is required. This is
indicated by a contra sign (C) in the folio column
indicating thereby that the double entry aspect of this
transaction is complete and it requires no posting to the
ledger.
"Deposits in the bank of cash: debit bank column 'To Cash'
and credit the cash column 'By bank'."
| Is This Answer Correct ? | 3 Yes | 5 No |
Post New Answer View All Answers
What do you debit and credit if discount allowed is underrated?
what is book building
Sales Invoice 50000/- fully profit , management want profit for this year should be appear in P&L A/c and B/S 25000/- only and remaining 25000/- profit retain for the next year What will be JV for this year and next year?- Thank you
cheque deposit is a contra entry?
Knowing what you know now, walk me through what you would do differently to drive even more success?
A non-function currency claim:- Employee while updating a non functional currency claim the system uses the period end rate i.e. any claim pertaining to the period 01Aug - 25th Aug. the system uses the period end rate as of July 31st. (2) Also, what is the basis of using the period end rate not the average rate for expenses claim. Can you please clarify my question.
Discuss the consistency concept in accounting
Explain the accounts payable cycle
What is depreciation and how many types are there. Please give details?
What is general ledger account?
What procedure for excess payment to supplier I would like know without adjusting invoice that means how supplier will send back excess amount how do in oracle apps?
Explain what knowledge should financial accountant have?
whats the sales tax slab and company's turnover professional tax slab
Which accounting applications are your familiar with?
what are the different types of expenditures considered for the purpose of accounting?
