Write the difference among journal voucher and contra, Accounting Basics

Assignment Help:

 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

 


Related Discussions:- Write the difference among journal voucher and contra

Exchange-price or cost principle, Q. Explain about Exchange-price or cost p...

Q. Explain about Exchange-price or cost principle? When resources are transferred between two parties such like buying merchandise on account the accountant must follow the exc

On aug 14th, On Aug 14th, One of our Partner's ( Compuville ) cash book sho...

On Aug 14th, One of our Partner's ( Compuville ) cash book showed a debit balance of $4,000.00. His bank statement showed a balance of $4,270.00. On comparison the following we

Balance sheet, Ken Young and Kim Sherwood organized Reader Direct as a corp...

Ken Young and Kim Sherwood organized Reader Direct as a corporation; each contributed $49,000 cash to start the business and received 4,000 shares of stock. The store completed its

Fifo cost flow assumption , 1.   Under the FIFO Cost Flow Assumption durin...

1.   Under the FIFO Cost Flow Assumption during a period of inflation, which of the following is false? WHICH OF THE FOLLOWING IS NOT TRUE a.   Income tax expenses will be hig

Adjustments for financial reporting, Adjustments for financial reporting ...

Adjustments for financial reporting - Explain the basic characteristics of the cash basis and the accrual basis of accounting. - Recognize the reasons why adjusting entries

Accounting standards in brief, Accounting Standards  The flexibili...

Accounting Standards  The flexibilities offered by a choice of accounting treatments distinctly diminish, and even distort the comparability of relevant inform

Show tax benefits of lifo, Q. Show Tax benefits of LIFO? Tax benefits o...

Q. Show Tax benefits of LIFO? Tax benefits of LIFO The LIFO method outcomes in the lowest taxable income and thus the lowest income taxes when prices are rising. The Internal R

Office equipment for cash, Purchased trucks and office equipment for cash ...

Purchased trucks and office equipment for cash Metro paid USD 20000 cash on behalf of two used delivery trucks and USD 1500 for office equipment. Office equipment and Trucks ar

Accounting concept, define accounting. Explain the accounting concepts whic...

define accounting. Explain the accounting concepts which guide the accountant at the recording stage.

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd