Opened a Bank account with SBI
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Answered by
6
Hello!!!
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The journal entry for given transaction..
" Opened A bank account with SBI "
will be....
Bank account. Dr
To cash a/c.
( being account opened with bank).
The journal entry of this transaction will be same as...
cash deposited into bank.
Because event are same for both the transaction.
since, bank account is increasing we ll debit it, and cash is decreasing, we ll credit it...
____________________________________
☺️☺️☺️☺️☺️☺️
__________________________________________________
The journal entry for given transaction..
" Opened A bank account with SBI "
will be....
Bank account. Dr
To cash a/c.
( being account opened with bank).
The journal entry of this transaction will be same as...
cash deposited into bank.
Because event are same for both the transaction.
since, bank account is increasing we ll debit it, and cash is decreasing, we ll credit it...
____________________________________
☺️☺️☺️☺️☺️☺️
RohitSaketi:
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check my answer
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If a user is asking this question
then ,It might be related with transaction related with business activity
so, It ll be wrong to say, that it is incorrect
need not be
Yup, But it mi8 be
Answered by
1
Since there is no information regarding initial deposit we cannot consider it to be quantitative information.. Opening a bank account is a qualitative information that has no place in the books of accounting ..So there will not be any entry in the books...bank accounts are of many types(like zero balance account) where there is no initial outflow of cash is possible....
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