What is contra entry?

Answer Posted / uttam.847

This is transaction between coustmor and bank , it recorded
when cash deposit or withdrawn.

Is This Answer Correct ?    0 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

BRIEF IN DETAIL REGARDING RATIOS

1493


Financial Accounting

1823


When Start Service Tax Deducted? How Many Percent is deduct? Service Tax deposited Date in Current 2011.

1679


Explain what are the accounting events that are frequently involved in compound entries?

657


kindly send the TDS tariff on Security expenses, rents, transport charges etc.,

1577






What are the various systems of accounting? Explain them.

604


What Entery Should Made When Godown Rent Paid in Advance At The Time Of Agreement.Transation Is as Below * Rent Paid To XYZ (OWNER OF PROPERTY) For Running Month. * One Month Rent In Advance Tenent will Always pay rent amt 1st of every month. How can we do entry every month and How can party's a/c will due on ending every month. How can party a/c Show ADVANCE RENT. Please enter every entery including JV. With time when it is necessary.

2797


What is good accounts Process & Execution capabilities?

1605


Wo kya cheez hai jo sal me 1bar mahine me 2 bar aur hafte me 4 bar aur din me 6 bar ata hai?

6064


how much cash transaction to single transport company per day and also per year

1123


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

1456


DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in haryana. The company's sales in the year ending on 31st march 2007 were Rs.1000 million(Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of the company is 14 percent.The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30 million per annum. The plant can be sold for Rs.200 million: (a) The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annum installment of interest and repayment of principal. (b) A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: (1) Should the company expand its capacity? show the computation of NPV. (2) What is the annual installment of bank loan? (3) calculate the quarterly installment of the financial institution loan. (4) should the company borrow from the bank of from the financial institution?

2582


Why do you want to be an accountant?

645


What is accounting

3853


Kindly define necessary ledger is to maintain in excise. Kindly define how we maintain P.L.A

1835