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How do you pass accounting entries in case of a cheque bounce?
Wiki User
∙ 13y ago
#1 : At the time of deposit
Bank a/c Dr
To Customer a/c
#2. when the cheque was dishonoured we have to reverse it
Customer a/c Dr
To Bank a/c
irshad: irshadcomtech
Wiki User
∙ 13y ago
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What is mutilated cheque?
In case a cheque is torn into two or more pieces and presented for payment , such a cheque is called a mutilated cheque'''''''''It can behonoredif the collecting bank guarantees by certifying back side of the mutilated cheque...BOB Amin
What is the Difference between cross check and bearer check?
In the case of a bearer cheque, the bank has to pay the person who is holding the cheque and presenting it for payment. In case of a crossed cheque, the bank will only credit the money into the persons bank account. They will not issue cash
Whether secondary evidence can be adduced in cheque bounce case under 138 proceedings?
Secondary evidence - Original cheque lost (37.) Section 138 - Original cheque lost - Secondary evidence - Photocopy of cheque already on record - If cheque is really lost it would be improper and incorrect to deny the complainant an opportunity to substantiate his grievance by adducing secondary evidence as permitted under Section 65 of Evidence Act. (Evidence Act, 1872, Section 65). (Chitaranjan Vs Jayarajan) 2005(1) CIVIL COURT CASES 810 (Kerala)Rohit NaagpalAdvocate
What is the purpose of crossed check?
A Crossed Cheque is also called an Account Payee cheque. This type of cheque cannot be cashed directly. It can only be deposited into an account of the person to whom the cheque is issued. This is done to ensure that in case the cheque is lost, it cannot be cashed by anyone who finds it. Crossing a cheque is done usually by making two parallel lines in the top left corner of the cheque.
Can you use account payee checks as self check?
No. An Account Payee cheque can only be paid into a bank account and not as cash, which is the case for a self cheque.
An examination of multi disciplinary case study in accounting dept?
An examination of multi disciplinary case study in accounting department
What Indian Govt. or legal official will take legal action against Dubai UAE unpaid returned bank cheque and what action willl be taken in India to Indian who is residing in India.?
Cheque bounce is a criminal offense in UAE and as well as in India. But when it comes to proceeding legal action against a UAE bank defaulter in India, he case depends on the nature of cirumstances. Whether it is a payment cheque or a security/guarantee cheque, because UAE banks indiscriminately / wantonly bounce a cheque when they find 3/4 instalments are unpaid by the defaulter. It is totally absurd on the part of the bank to present the cheque for the entire amount, when the defaulter is financially incapable of paying even the monthly instalment. In fact, the bank is the criminal because it wanted to present the cheque only to bounce it and get the defaulter arrested. When 3 or 4 instalments remain unpaid, the defaulter is seen by the bank as a "dreaded criminal" and efforts are on to jail him. The fact is - if the defauler is jailed, it will be an end of the road for him, he loses his job and his life. The bank too is not going to get back their money. So it is a lose-lose situation. Coming back to the question.... the bank in UAE cannot take any legal action against the defaulter in India bcoz
How many diary entries are there in mystery case files to ravenhearst?
32
Is a cheque written on toilet paper legal tender?
Yes. There is a case where a man wrote a cheque to pay his parking fine on toiler paper. It would have cost them £15 to process it.
Is The source document for payment of a payroll is a check?
Yes, Cheque in case of cheque issued or otherwise bank slips or bank latters through which salary transferred to accounts etc.
What is security cheque?
The cheque issued to drawee as security or surety, for using in case the drawer fails to meet the future obligations arising during course of business transactions. Such cheque is usually but not necessary; post dated cheque, blank as to date, blank as to amount, rarely blank as to drawee, but never blank as to signature.
Difference between crossed check and account payee check?
Actually they both refer to the same. A crossed cheque is also called an account payee cheque. These types of cheques can only be deposited into an individuals bank account and will not be cashed over the counter. This is used to minimize misuse of cheque instruments in case of loss or theft. We can always track the destination account into which funds were deposited using our crossed cheque whereas in case of bearer cheques (the ones that aren't crossed and can be cashed over the counter) we cannot.
