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Cash deposit 1000 at bank. What is nature of entry?

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Question added by Wasim khan wazir , Finance Specialist , Mott Macdonald
Date Posted: 2015/12/19
Shahbaz Hayder
by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

The nature of this accounting entry is a “Contra Entry”.  Contra is a Latin word meaning “the other side” or “Opposite”. In case of Cash Book affairs, a Contra entry is an adjustment entry which does not affect your total fund position as debit and credit aspects of a single transaction are entered in the same account, but in different columns.

Aadil Hajwane
by Aadil Hajwane , Sr. Payroll Accountant , Tejoury Company CJSC

Contra entry. .....,..........

Muhammed Shabeer Vp
by Muhammed Shabeer Vp , Accountant , Dammam

It Is Contra Entry  Debit Bank A/c , Credit Cash A/c

Shazia Anees
by Shazia Anees , Assistant Manager Finance , Arham Trading Company

contra entry --------------------------------------------------------------------

Ma. Kristy May Falogme
by Ma. Kristy May Falogme , Internal Auditor , Citimart Group of Companies

Debit Cash in Bank

Credit Cash on hand

suraj k.c
by suraj k.c , Sr. Accountant , Al Faraa Group of Company (Unibeton Ready Mix)

This is Contra Entry. The journal entry will be as follows: 

Bank Account Dr.

to Cash Account

ADITYA SHARMA
by ADITYA SHARMA , Manager , DELOITTE AND TOUCHE

this is  a contra  entry --------

Waqar khan
by Waqar khan , Audit Associate , PwC

Contra entry.,,,,,,,?????????????????????   

Kashif Mateen Mohammed
by Kashif Mateen Mohammed , Accountant , Al Falak Electronic Equipment & Supplies Company

Bank a/c---------Dr             

          To Cash a/c                          

(Being Cash deposited

    into Bank)

        

hussain hussain
by hussain hussain , Accountant , Samaa Al Thimar Co.

BANK  A/C DR

CASH A/C CR                                                         

Kaleemul Hasan
by Kaleemul Hasan , Account Manager , Satguru Travel

contra entry

 

Bank A/c dr  

Cash A/c cr            

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