Answer Posted / anu

Double Entry:
You've probably heard the saying, "Money doesn't grow on
trees." It means that money must come from somewhere---it
doesn't just "appear." Double-entry accounting is a method
of record-keeping that lets you track just where your money
comes from and where it goes.

Using double-entry means that money is never gained nor
lost---it is always transferred from somewhere (a source
account) to somewhere else (a destination account). In
GnuCash, this transfer is known as a transaction, and each
transaction requires at least two accounts.

Contra Entry:
Contra entry is journal entry.It will be effect in two books
one is cash book and another one is bank book.Now we will
be take cash deposit in bank and entry will be come like
this

Bank A/c dr ***
to cash A/c ****
(cash deposit in bank)
now here bank balance is increase and cash balances is
dicrease and it is effected in both books.

Explain the term account payable?

605

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over draft balance as per cash book (journal entries needed) a,cheques deposited in bank but no entry was passed in cashbook b, credit side of the bank, column cash short c, chques received but not sent to bank d, insurance premium paid by bank as per standing instructions e, credit side of bank, coloumn cash short f, bank charges entered in cash book twice g, cheques received returned by bank but no entry passed h, cheques issued returned on technical grounds i, bills directly collected by bank j, bank charges debited by bank k, cheques received entered twice l, bills discounted dishonoured

2291

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Explain which accounting application you prefer most and why?

583

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Plant and machinery destroyed for 50000

1105

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You are using the accounts approach to parallel valuation and classic assets accounting. You need to create a new financial statement version to valuation based of IFRS principles. In asset accounting, what posting options can you choose for the new depreciation area? (any 2 answer) Area post in real time Area posts APC directly and depreciation periodically Area posts APC only directly Area posts APC and depreciation periodically

1001

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I TRANSFERRED A STOCK OF RS. 100.00 FROM HEAD OFFICE DELHI TO MFG. UNIT OFFICE AT HARYANA AGST FORM F.AT BRANCH GOODS ARE PROCESSED AND ADDED VALUE OF RS. 80.00 AND TRNF BACK TO DELHI HEAD OFFICE FOR RS. 180.00 AGST FORM F FROM HARYANA . AND HEAD OFFICE SOLD THIS TO PARTY AT RS. 200.00 . I WANT TO KNOW HOW TO MAKE ACCOUNTING ENTRIES IN BOTH BOOKS HEAD OFFICE AND BRANCH OFFICE. TO SETTEL ACCOUNT AND TO CONSOLIDATE THE BOOKS AT THE END OF YEAR.

1505

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What is Debit Note and Credit Note? Subsidory Books? Minority Interest? Stock recording in P&L? Outstanding Expenses, Prepaid Expenses and Examples?

2941

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Tell me whether the account “cash” will be credited or debited, when a company pays a bill?

650

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I wana give interview as a accountant what the question will asked by interviewer ??? Please suggest me so I can clear inteview. abhinandan

1564

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I have a doubt in tally,if a customer purchase our product on cash or sometimes credit,under which head i need to make the customer ledger.?

1292

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how to calculate forefeiture of share when over subcription

1830

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What all are the documents need to check for a supplier payment?

1183

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OUR COMPANY IS ENGGAGED IN CONSTRUCTION ACTIVITY .WE ARE GOING TO PURCHASE EXACAVATOR MACHINE FROM THE INTERSTATE.WHETHER THE ABOVE PURCHASE COVERED BY ISSUING THE C FORM.

1770

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What is the Technology used to carry out trades? Pls Tell me as early as possible.

3091

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Explain what is accrual accounting?

679

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