by As per the Accounting Principles, Contra entry means those entries which are affects both cash and bank accounts or related to cash, bank, petty cash is called is contra entry.
- Cash a/c to Bank a/c // Deposit
- Bank a/c to Bank a/c. // Transfer
- Bank a/c to Cash a/c. // Withdraw
- Cash a/c to Petty Cash a/c. // // Transfer
Assignment No 1
Record the following Contra Voucher Transactions
1. Opening cash 2,20,000.00
Contra (Cash Deposit) Transaction [F4]
- 01-04-2022 Deposit cash of Rs 1,00,000 in AXIS Bank.
- 01-04-2022 Deposit Cash in ICICI Bank of Rs.20,000
- 01-04-2022 Deposit Cash in ICICI Bank of Rs.25,000
Contra (Cash Withdrawal) Transaction [F4)
- 01-04-2022 Withdrawal of Cash of Rs.10,000 from ICICI Bank vide Cheque No.
- 01-04-2022 Withdraw Cash of Rs.20,000 from ICICI Bank Vide Cheque No.666006
- 01-04-2022 Withdraw Cash of Rs.5,000 from AXIS Bank Ltd.
- 01-04-2022 Withdraw of Cash of Rs.8,000 from ICICI Bank Vide Cheque No.666005
Contra (Fund Transfer) Transaction [F4]
- 1-04-2020 Transfer Rs.25,000 from Cash to Petty Cash.
- 2-04-2020 State Bank of India is transferred to ICICI Bank of Rs.5,000 (F4:Contra)
- 1-05-2020 Amount Collected Axis Bank ltd. transferred to ICICI Bank of Rs.10,000
- 2-05-2020 Transfer Rs.5,000 from Cash to Petty Cash
