Answered Questions
Asked By: deepakkumarcs
| Asked On: Oct 20th, 2010
We have purchsed 100 share by cheque and we have sold 200 share from our stock. Tell how can we give entry to accounts ?
What is the difference between single entry system & double entry system?
Asked By: chethana
| Asked On: May 28th, 2007
Answered by: sreejithsr on: Nov 28th, 2010
In Single Entry System Cash / Bank transactions mentioned in same column But double entry transactiones mentioned in seperated by Cash & Bank column.
Answered by: mrforever on: Jan 21st, 2008
Single Entry is an incomplete record of book keeping Whereas Duble Entry is an complete record of book keeping.
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Purchase of Share
Share a/c dr Bank a/c cr
Sold of shares
Bank a/c dr Share a/c cr
At the time of Purchase "Purchase A/C Dr to Bank Cr and " and at the time sold Party A/c Dr to Sales A/C Cr.