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

Advantages of setting accounting standards, Advantages of setting Accountin...

Advantages of setting Accounting Standards: 1. Setting of Accounting Standards will decrease the variations in the preparation of financial statements significantly. 2. Sett

What does a business owner do when the cash balance, What does a business o...

What does a business owner do when the cash balance approaches zero and there are bills to be paid? (Hint: look at the financing activities of the Cash Flow Statement and then lo

Scope of accounting, The range of accounting can be presented in a diagramm...

The range of accounting can be presented in a diagrammatic form. Data collection and creation is the area that provides raw material for accounting. The data collecte

State the term- liabilities, State the term- Liabilities Current Liabi...

State the term- Liabilities Current Liability is a debt which is due for payment within one year. Long-term liability is one NOT paid in a year. OWNER'S EQUITY Also

Accounting as an information system, As discussing the scope of accounting ...

As discussing the scope of accounting you should have observed here the accounting involves a sequence of activities connected with each other, starting along with the collecting,

General journal, owner invested 80000 cash and 2000 office equpmeent in to ...

owner invested 80000 cash and 2000 office equpmeent in to the business bank account

Macrs, define Macrs in detail

define Macrs in detail

Learning objectives of horizontal and vertical analysis, Q. Learning object...

Q. Learning objectives of Horizontal and vertical analysis? - An account is a storage element used to classify and summarize money measurements of business activities of a simi

Advantage of a pre-inventory sale, Q. Advantage of a pre-inventory sale? ...

Q. Advantage of a pre-inventory sale? Have you still taken advantage of a pre-inventory sale at your favourite retail store Many stores offer bargain prices to decrease the mer

What is the end-of-period worksheet, What is the end-of-period worksheet ...

What is the end-of-period worksheet Show Trial Balance-debits MUST EQUAL credits Show Adjustments-debits MUST EQUAL credits Carry adjustments forward to Adjusted Trial Ba

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages