Write the difference among journal voucher and contra, Accounting Basics

 Journal voucher is the voucher in which all the adjustment related entries and non cash non bank transactions are come ijournal eg-dep, some of them book the bills in journal and

whereas they make a payment they record in payment eg-contractor bill

Contra appears two times in two sides of a account an account will be care for as contra when

1, Cash deposited in bank

2, cash with drawn from bank for office use

3, cheques deposited in bank

4, transfers from one account to another account

 

Posted Date: 3/30/2013 3:19:19 AM | Location : United States







Related Discussions:- Write the difference among journal voucher and contra, Assignment Help, Ask Question on Write the difference among journal voucher and contra, Get Answer, Expert's Help, Write the difference among journal voucher and contra Discussions

Write discussion on Write the difference among journal voucher and contra
Your posts are moderated
Related Questions
Q. What is T-account? To exemplify recording the increases and decreases in an account texts use the T-account which appear like a capital letter T. The name of the account suc

The Kauai Surf Company sells high-end surfboards to tourists.  The inventory is purchased from a manufacturer in Honolulu.

Q. Define an accounting system? Effects from a recent survey of 1400 chief financial officers (CFOs) indicate that tomorrow's accounting professionals will be called upon to br

During the week ended May 15, 2013, Scott Fairchild worked 40 hours. His regular hourly rate is $31. Assume that his earnings are subject to social security tax at a rate of 6.20 p

Heww Inc., issued a $50,000, 10 year bond with a stated interest rate of 6%. Assume interest payments are made semi-annually. What is the selling price of the bond if the mark


can a buyer still avail the 2% discount if he/she partially paid the accounts receivable at the 5th day and the full payment is on the 10th day of the given discount period in th

1. An accountant records a transaction when cash is paid or received under which basis of accounting?  cash  deferred  accrual  liability  2. When unearned revenue is initially rec

Q. Illustrate Exchange-price concept? Exchange-price (or cost) concept (principle). The majority of the amounts in an accounting system are the objective money prices determine

Bill is an avid angler. His favorite fishing location is Willow Lake, which supports year-round sport fishing. His monthly demand function for fishing at Willow Lake is given by x