define contra entry?

Answer Posted / xyz

Dear Suresh! a transaction from cash to bank or from bank
to cash must be recorded in both the books but it is not a
contra entry. Contra entry always contradict effect of a
previous entry

Is This Answer Correct ?    1 Yes 3 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Hello Sir, My Name is Shoaib, I am Novice in Accounting Field. I want to learn the simple & step by step, procedure to final my company account. Please Help

1530


what's the mean by Imprest system? Please give me Replay on this no. 9885789716

1584


what is the Journal entry for credit card bill paid from same bank account

1341


What is fiduciary accounting?

741


What are the different fields of accounting?

726






which chart of depreciation copy for our Indian companies in sap(fi-aa)? please give answer. Thanking you, mohan

1851


Hey can any body tell me..What are negative assets?

1707


Can you help me to pass the journal entry for work in progress for a construction company? I would like to know the debit and credit for W.I.P will be under in which accounts head. Eg: debit will be in current asset a/c head, and credit will be under in which a/c in P&L? whether under purchase a/c head, or under direct income a/c head? please give me the details. Thanks for your previous answer?

1817


Tell me what are the activities that includes in cash flow statement?

1037


What is mis report , how to prepare mis report for general ledger?

1150


Hello Friends, I am Vinod Rawat & want some tips of interview question for the post of accountant in a reputed company Pls. Given Examples.

1680


What is an over accrual?

701


hai! i am a BE(computer science) graduate with 54% of aggregate looking for bank clerk job? in interview they are asking why are you looking for a bank job and what guareente that once you are selected ? plz guide me?

1695


informance about performance is disclosed by

1885


What do you mean by balancing of ledger account?

649