EASYOFFICE

Receipts and payments

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
31 March 2012 is it correct that since r and p account only includes actual receipts and payments trf entries(eg.cash to bank ) are not included in it ?
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
31 March 2012 Receipts & Payments account includes the opening balance & closing balance of cash and bank.

So contra entries are automatically adjusted and not shown separately.
Profile Image

CA CS Amit S. Kedia

Profile Image

CA CS Amit S. Kedia (Expert)
31 March 2012 No, It is a contra Entry. The entry is passed in Cash A/c and Bank A/c and the same forms part of B/s.
No entry will be passed in Receipt & Payment A/c.
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

C A S.S.Agarwal, M.Com.,LL.B,

Profile Image

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
14 April 2012 Experts have given proper reply to your query and I agree with them
Profile Image

CA Siddhartha Bhardwaj

Profile Image

CA Siddhartha Bhardwaj (Expert)
14 April 2012 Mr CA SS Agarwal, please try to add value with your replies.

Do not add unnecessary replies to a query.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


EasyOFFICE CCI Pro

Trending Online Classes

view all classess


Answer Query



Quick Links