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I would like 2 know the answr then... if u morgaine

Yeah that's it morgaine

It's the amt send to bank but not yet cleared.. So D. would be right choice

Contra account refers to those entries in which only bank and cash accounts are involved... for e.g.. Cash deposited in bank is a contra entry... ie. Here bank is dr and cash is cr. No other...

this equation will balance always bcoz... the assets are bought or they arise bcoz of a corresponding credit for liability.. for e.g.. Assume a furniture is bought for cash... then v will debit...

All errors are coorected in the same journal... do you mean wer to put in any software you are using

20000-(8000+3500) = Rs8500 will b the capital stock

Capital stock,retained earnings and liabilities are to b shown in liabiliy side of balance sheet and assets on assets side... so the diff...

Vehicle account Dr. Rs 3582.86
Cash Cr. Rs 3082.86
Discount Cr. Rs 500.

If u need further details I'll b hapy...

Yeah its right

Accounting is the collection, recording and analysis of all financial transactions... it will help to draw many facts like the profit/loss, financial position.. etc.

But this is a vast branch...