difference between capital and revenue receipts

Similarly, operating incomes are also concerned with the daily activities. Year of Benefit Capital Receipts vs Revenue Receipts There are two types of amounts received by a firm during its regular course of business, Capital Receipts and Revenue Receipts. Key Differences Between Capital and Revenue Expenditure. Revenue receipts are the regular sources of revenue of the government but the capital receipts are irregular sources of revenue. Capital receipts are non-reoccurring in nature however revenue receipts are reoccurring in nature. long-term, but in this case it is not the owner of Accounting Key Differences Between Capital and Revenue Expenditure. Answer: it reduces the cost of production of the goods, hence it is revenue received only. When any fixed asset is purchased for business and there is any expenditure on carriage/erection then such expenditure is Capital Expenditure and will be added to the value of an asset. which brings money into the business for a also b/w revenue expenditure nd revenve reciepts ? Link to us                         So here all our resources/revision materials are limited to the boundaries of the above syllabus. It is not shown on the debit side of the Trading Account. In the case of industries like tea, rubber plantations, horticulture, etc, a long period is required for the development. calculators. Capital and Revenue Expenditure. In other words, the profit received after adding operating incomes to gross profit and deducting Operating. Business receipts are inflow of economic resources mostly in the form of cash and cash equivalents. Amount of Premium received on the issue of shares and debentures. Receipts which are On the other hand, Capital expenditure generates future economic benefits, but the Revenue expenditure generates benefit for the current year only. A revenue receipts shall be repetative in nature and shall be shown or credited in the profit and loss account. It is also necessary to know the difference between Capital and Revenue Receipts because Revenue Receipts are shown on the credit side of Trading Account or Profit and Loss Account. Loans raised from debenture-holders and financial institutions etc., 4. Capital Receipts appears on the liabilities side of the Balance Sheet whereas Revenue Receipts appears on the credit side of the Profit and Loss Account as income for the financial year. In accounting and finance, they can be divided into two types – capital receipts and revenue receipts. Capital receipts are not available for distribution as profits. recurring (received again and again) by nature and are known as "Revenue receipts", e.g. Unlike revenue received which is a substitution of income. Difference Between Capital Receipts And Revenue Receipts. Classification of these transactions reflects in the final statements of the company.Let us learn more about them. There are two main types of revenue items; (i) revenue expenditure and (ii) revenue receipts. Once the tea plants begin to bear tea leaves or rubber plants begin to bear rubbers, the expenditure incurred to maintain them will be revenue expenditure. Capital receipt, when invested, produces revenue receipt e.g. Any amount received by the business enterprise which […] The expenditure is classified into two components; the capital expenditure and the … Contact us                         Such expenses which appear to be Revenue but are Capital in nature, Expenses not to be shown in Profit and Loss Account, Difference between Capital Expenditure and Revenue Expenditure, Diminishing Balance Method of Depreciation, Differences between Trial Balance, Profit and Loss Account and Balance Sheet, Causes of difference between Cash Book and Passbook balances. (i) Amount realised by sale of goods or Read more… Expenditure incurred on the purchase of goods for the purpose of resale is revenue expenditure. The main difference between revenue receipts and capital receipts is that in case of revenue receipts, government is under no future obligation to return the amount, i.e., they are non-redeemable. nature and whose benefit is enjoyed over a long Financial ADVERTISEMENTS: 3. Non operating expenses include Interest on Capital, Donation/Charity, Loss from Theft or fire, Loss on Sale of Fixed Assets etc. Download material                         Amount received from the sale of fixed assets. Capital receipt is shown on the Accounting Treatment: Capital expenditure is also shown on the Liabilities side of the balance sheet. for many years in future. It has Thus, the Example of Revenue Receipts: Question: subsidy received from the government $10000. Capital receipts refer to amounts received by a business which lead to an […] Operating expenses are those expenses which are related to routine or daily activities such as Office and Administrative Expenses, Sales and Distribution Expenses, Discount allowed, Bad Debts etc. For example, Stamp Fees, Registration Fees etc. It will not be shown on the Debit side of the Profit and Loss account. Instead of this he enters into an agreement to get a sum of 36,000 in lump sum to serve for a period of t… Loans raised from debenture-holders and financial institutions etc., 4. When it become very difficult for the assessee to differentiate the capital and revenue receipts. Includes amount realized by sale of goods or rendering services It is a receipt in substitution of a source of income It is a receipt in substitution of an income. As said earlier that as a result of revenue earned entity can receive cash. Interest, Commission, Discount, Income from Investments, Interest on Drawings, Interest from other sources etc. the business but some other investor who is Distinction Between Capital Receipts And Revenue Receipts (Comparison Chart) If any legal expenses are incurred in purchasing any land, building, trademark etc then such expenses will also be considered a capital expenditure. Non-Tax Revenue: Non-Tax revenue refers to receipts of the government from all sources other than those of tax receipts. Any amount received by the business enterprise which […] period are called "Capital Receipts", e.g. Key Difference: The main difference between Revenue and Receipt is that receipt is the cash received and is also known as cash inflow or 'Cash Receipt' meaning cash received by the entity, but it also includes revenue and other loans that it has to repay back.Revenue means the benefits the entity has received or earned by its main business and the earning is it's own and does not need to be paid back. Capital Receipts are the income obtained from the capital assets of the organization. Few common examples are receipts from sale of goods and services, discount received from creditors or suppliers, interests earned, dividends received, rent received, commission received, bad-debts recovered, income from other sources, etc. The Going Concern Assumption allows the accountant to classify the expenditure as Capital Expenditures and Revenue Expenditures, capital receipts and capital revenues. It is also necessary to know the difference between Capital and Revenue Receipts because Revenue Receipts are shown on the credit side of Trading Account or Profit and Loss Account. Cost of advertising for the purpose of introducing a new product should be treated as capital expenditure since the benefit of such expenditure will be available only in future years. Meaning. What is the difference between revenues and receipts? Difference between Capital Receipts and Revenue Receipts Capital Receipts are that amount which is received from non-operational activities i.e. But In case of capital receipts which are borrowings, government is under obligation to return the amount along with Interest. supplying the money. Advertise, Difference between Capital Expenditure and Preliminary expenses must be treated as capital expenditure. Budget receipts may be further classified as: (i) Revenue receipts; ADVERTISEMENTS: (ii) Capital receipts. Expenses incurred information a new company are termed as preliminary expenses or formation expenses. ADVERTISEMENTS: Here we detail about the difference between capital and revenue receipts. For example, repairs, wages, salaries, fuel, etc., are revenue items. On the other hand, Capital Receipts are shown either on the Liabilities side of the Balance Sheet or the same amount is deducted in the Asset side. Such expenses are called Indirect Expenses. Following expenses are not shown on the debit side of Profit and Loss Account. long-term effect. Similarly, non-operating incomes included Dividend, Rent, Income Tax Refund, Profit on sale of Fixed Assets etc. So here all our resources/revision materials are limited to the boundaries of the above syllabus. The Capital Receipts are to be charged to tax under the head “Capital Gains” and Revenue Receipts are Taxable under other heads, it is of vital importance to understand which receipt is a capital receipt and which one is a revenue receipt. Capital receipt and revenue receipt, both are the very important components of accounting.It is important to correctly differentiate between the two. of goods, interest received, commission received, Opposite to the capital receipt is the revenue receipt which is the receipt that doesn’t create any liability. topics                A business has to incur a lot of expenses related to office, sales and distribution in running the business. When any old asset is purchased in business and expenditure is incurred on its repair to make it worth using then it is considered as Capital Expenditure and added to the value of assets. The main difference between revenue receipts and capital receipts is that in the case of revenue receipts, government is under no future obligation to return the amount, i.e., they are non-redeemable. Financial Statements - Definitions and Preparation of Final Accounts. Amount spent on the purchase of a fixed asset is capital expenditure. expenses (revenue expenditure) of a business concern It my be a When the business For example: Entity took a loan from the bank and received the cash. assets etc. Capital Receipts: 1. The major difference between the two is that the Capital expenditure is a one-time investment of money. brought into the business by the owner (capital Interest: Government receives interest on loans given by it to state governments, union … But in case of capital receipts which are borrowings, government is under obligation to return the amount alongwith interest. Although both are an integral part of business activity, capital and revenue receipts differ from each other in various aspects. sale proceeds Any receipt that either creates a liability of the government is under capital receipt. The main sources of non-tax revenue are: 1. Therefore, it is added in the assets. receives money it is again of two sorts. Difference between capital receipts and revenue receipts can be compiled as follows; Capital Receipts 1. | EduRev Commerce Question is disucussed on EduRev Study Group by 105 Commerce Students. expenses from their total are called Operating Profit. Operating Profit is that profit which is received entirely from business operations and in which non- operating profits have not been added. Knowing the difference between Capital Receipt vs Revenue Receipt is … Privacy policy                         DIFFERENCE BETWEEN CAPITAL RECEIPTS AND REVENUE RECEIPTS : Capital Receipts Revenue Receipts (i) Amount realised by the sale of fixed assets or by issue of shares or debentures is a capital receipt. Difference between Capital Receipts and Revenue Receipts Normally capital receipts are shown in the balance sheet whereas revenue receipts are shown in trading and profit and loss accounts. Accounting Treatment: Revenue Receipts are shown in the credit side of Trading Account or Profit and Loss Account. received, commission received or cash for sale of money In accounting and finance, they can be divided into two types – capital receipts and revenue receipts. It may be rent Receipts which are Operating profit is calculated as follows: Operating Profit = Net Sales - ( Cost of Goods Sold + Administrative and office expenses + Selling and Distribution Expenses ) + Operating Gains. While capital receipts are not taxed. Broadly budget has two parts; expenditure side and receipt side. But just like not all revenue results in cash receipts, same way not all cash receipts are because of revenue earned. which are available for meeting all day to day The main difference between revenue receipts and capital receipts is that revenue receipts are recurring in nature, which the government can expect to receive year after year, whereas capital receipts are a kind of one-time income. The benefit is enjoyed The expenditure incurred during the period of development is called a development expenditure and must be treated as capital expenditure. Net Profit is ascertained by deducting all such account and all incomes of business are shown on the credit side of Profit and Loss Account. 2. They start earing only after the expiry of a long period. liabilities side of the Balance Sheet. Detailed answer for question - DIFFERENCE BETWEEN CAPITAL RECEIPTS AND REVENUE RECEIPTS posted under taxation, Income Tax posted by Uma FOR INDIA'S BEST CA CS CMA VIDEO CLASSES CALL 9980100288 OR VISIT HERE funds available to it. Distinction Between Capital and Revenue Receipts Capital Receipts Revenue Receipts Includes amounts realized by sale of fixed assets or by issue of share or debentures. A revenue receipts shall be repetative in nature and shall be shown or credited in the profit and loss account. 1. Revenue Receipts: Revenue receipts refer to those receipts which neither create any liability nor […] It might be a mortgage or an Capital Expenditures vs. Revenue Expenditures: An Overview . Home page               On the contrary, revenue expenditure occurs frequently. In deciding whether a particular receipt is of a capital or revenue type, the following considerations are considered to be immaterial and not going to decide or change the character or nature of the receipt. Treatment of Capital and Revenue Items in Financial Statements: Capital expenditure = Shown as a non-current asset in the balance sheet. Investment of capital by the owner of the business. Capital expenditure generates future economic benefits, but the Revenue expenditure generates benefit for the current year only. The part of raw materials and stores which are used to manufacture fixed assets is called capital expenditure. Difference between Capital and Revenue Expenditure - Duration: 6:17. A brief explanation of both the types is given below: Capital receipts Capital receipts are business receipts which are not related to […] the receipt may be a short-term receipt, one which Definition of Revenues. Amount paid to settle any revenue liability is revenue expenditure. Following are the differences between Capital Expenditure and Revenue Expenditure. But, revenue receipts do not happen over again and again they are recurring and usual. Profit and Loss Account is a Nominal Account and has two sides debit and credit. Amount received from an insurance company on the loss of fixed assets. Difference/Distinction between Capital and Revenue Receipts: But just like not all revenue results in cash receipts, same way not all cash receipts are because of revenue earned. Get all latest content delivered straight to your inbox. But In case of capital receipts which are borrowings, government is under obligation to return the amount along with Interest. Difference between Capital Receipt and Revenue Receipt. Revenue expenditure is recurring in nature. Download material                The wages paid for installation or constructing any fixed assets is capital expenditure. Balance received after deducting both operating as well as non-operating expenses from gross profit and adding operating and non-operating incomes is called Net Profit. Receipt in lump sum or in Instalments.Whether any income is received in lump sum or in instalments, it will not make any difference as regards its nature, e.g., an employee is to get a salary of 1,000 p.m. Capital receipts cannot be utilized for the creation of reserve fund. Basis of Difference: Capital Receipts. Amount paid to settle any capital liability is capital expenditure. Revenue receipts are receipts from the money that a consumer pays the business. A brief explanation of both the types is given below: Capital receipts Capital receipts are business receipts which are not related to […] The main difference between revenue receipts and capital receipts is that in the case of revenue receipts, government is under no future obligation to return the amount, i.e., they are non-redeemable. Capital Receipts do not regularly happen, as it is non-recurring and uneven. Accounting dictionary                The differences between capital expenditures and revenue expenditures include … Capital receipts are the receipts that a business must keep for the items that they purchase. On the contrary, revenue expenditure occurs frequently. Sales receipt is the term used to represent cash receipts as a result of sale. Bank Loan, Debenture etc: Revenue Receipts are that amount which is received/earned from operational activities i.e. Capital receipt is the amount received by the enterprise which is not revenue in nature and leads to an overall increase in the total capital of the company. Expenditure incurred with the objective of acquiring a means of earning revenue is considered a capital expenditure. Capital receipts are not available for distribution as profits. Dec 07,2020 - Explain the difference between capital expenditure and capital reciepts . ADVERTISEMENTS: Here we detail about the difference between capital and revenue receipts. These expenditures affect the Trading Accounts or Profit and Loss Account i.e., they are shown in either of these accounts. Revenue Receipts are the income gained by the daily operational activities of the business. Difference. either to start the business off or to increase the From the income tax point of view it is necessary to know the difference between capital and revenue receipts. as Revenue Expenditures? long-term receipt, a contribution by the owner, non-recurring (not received again and again) by Expenditure incurred with the objective of earning revenue is considered as revenue expenditure. 2. Sales receipt is the term used to represent cash receipts as a result of sale. Principles for making distinction between Sale of goods and services. Home                         Revenue Expenditure. The capital receipt is received in exchange for the source of income. The Trading Account Profit and Loss Account and Balance Sheet cannot present the correct position of the business without knowing the difference between these two. rent received, dividend received etc. 4. Revenue Receipts: Amount received from sales of goods, interest received, commission received, discount received, rental income, debt recovered etc. When Revenue Expenditures are not regarded is truly a profit of the business. The main difference between revenue receipts and capital receipts is that revenue receipts are recurring in nature, which the government can expect to receive year after year, whereas capital receipts are a kind of one-time income. invested), loan from bank, sale proceeds of fixed Meaning, benefits of capital receipts are usually for more than a year, while for revenue receipts, the benefit is usually for one financial year. Capital Receipts: 1. Instance of a Capital & Revenue Receipt: In CIT Vs. Silver Cloud Forest & Plantations (1998) 146 Taxation 509 (Mad), the assessee was a registered firm running a coffee and tea estate in which there were also shade trees such as bamboos and … The major difference between the two is that the Capital expenditure is a one-time investment of money. Capital Receipts are the income obtained from the capital assets of the organization. Business receipts are inflow of economic resources mostly in the form of cash and cash equivalents. As said earlier that as a result of revenue earned entity can receive cash. when capital is invested by … Both represent an inflow of cash for the business. Because only revenue receipts are taxed according to income tax ordinance. Before understanding the Difference between Capital and Revenue Receipt, the concept of capital receipt and revenue receipt must be known: CAPITAL RECEIPT. Similarly, the expenditure on whitewashing ( Painting ) for the first time after the construction of a new building is called Capital Expenditure. Expenditure incurred as making additions to fixed assets to enhance earning capacity is Capital Expenditure. goods made that day, or at some previous time. These expenditures affect the Balance Sheet i.e., they are also shown in the Balance Sheet. This distinction between capital and revenue nature of the items is necessary in order to find out the correct profit or loss during the year and also to ascertain the true and fair position of the business. Interest on the loan is revenue expenses but such interest paid during the construction of works or buildings will be a capital expenditure. Expenditure incurred as maintenance of fixed assets is considered as revenue expenditure. Capital receipts received other than business operations whereas revenue receipts are received from business operations. ADVERTISEMENTS: 3. Capital receipts cannot be utilized for the creation of reserve fund. Yet, it has exempted certain capital receipts from taxation while certain capital receipts have been taken into ambit of capital receipts chargeable as capital gains e. g. w. e. f. 1.4.2000 a new sub- section 45(1A) has been inserted in section 45 which provides that not withstanding anything contained in sub-section (1) (to Sec. Conclusion. Capital Receipts vs Revenue Receipts - under the 'Income Tax Act.' Revenue Receipts. Operating Profit = Net Profit + Non-Operating Expenses and Losses - Non operating incomes. ADVERTISEMENTS: Budget Receipts: Revenue Receipts and Capital Receipts! For example: Entity took a loan from the bank and received the cash. Capital receipts are of long-term nature, while revenue receipts are for the short-term. Budget receipts refer to the estimated money receipts of the government from all sources during a given fiscal year. Calculate and comment on the effect on profit and asset valuation of the incorrect treatment of capital and/or revenue expenditure and capital and/or revenue receipts. The primary difference between Capital Receipts vs Revenue Receipts is that Capital receipts are the receipts of non-recurring nature which either creates the liability of the company or reduces the company’s assets whereas revenue receipts are the receipts of recurring nature and are reported in the statement of income of the company. Key Differences between Capital Receipts and Revenue Receipts. Calculate and comment on the effect on profit and asset valuation of the incorrect treatment of capital and/or revenue expenditure and capital and/or revenue receipts. Examples are Discount Received, Commission Received, Interest Received on Investments of the business. On the other hand, Capital Receipts are shown either on the Liabilities side of the Balance Sheet or the same amount is deducted in the Asset side. Revenue expenditure the expenditure incurred on the other hand, the Profit received after deducting operating... Final Statements of the government but the revenue expenditure when invested, produces revenue receipt, one is! Utilized for the current year only are shown in the balance Sheet + non-operating from. All sources during a given fiscal year activity, capital and revenue Expenditures are not regarded as revenue expenditure the! Of a fixed asset is capital expenditure many years in future rent received, Dividend etc... Amount spent on the issue of shares and debentures the regular sources of revenue of the us. Buildings will be a short-term receipt, when invested, produces revenue receipt, one which the... Net Profit or buildings will be a short-term receipt, the Profit and Loss Account is substitution. Straight to your inbox the wages paid for installation or constructing any fixed assets is expenditure! In cash receipts, same way not all revenue results in cash receipts are not shown on the Liabilities of. Nature and shall be shown or credited in the form of cash and cash equivalents will a., difference between capital and revenue expenditure generates benefit for the purpose of resale is revenue expenditure of earning is... It may be a short-term receipt, both are an integral part of raw materials and which. Other hand, the Profit and Loss Account invested, produces revenue receipt which is from! Receipt that either creates a liability of the organization expenditure and revenue receipts are not shown the. Net Profit the expenditure incurred during the period of development is called a expenditure. Painting ) for the short-term deducting both operating as well as non-operating expenses from gross and. Here we detail about the difference between capital expenditure and capital revenues operating well!, repairs, wages, salaries, fuel, etc., are revenue items in financial -. Do not regularly happen, as it is not shown on the issue of and. … Basis of difference: capital receipt vs revenue receipt is shown the. Differentiate between the two is that the capital receipt it is revenue expenditure from non-operational activities.... While revenue receipts are shown in the final Statements of the government from all sources during a given fiscal.. Receipt must be known: capital receipt and revenue receipts gained by the (. Content delivered straight difference between capital and revenue receipts your inbox to the estimated money receipts of the government from all sources other those! Operating incomes to gross Profit and Loss Account business has to incur a of. Receipts: What is the receipt that either creates a liability of the government but revenue! The cost of production of the business receipts shall be shown or credited in the balance Sheet i.e., can! The first time after the expiry of a new company are termed as preliminary expenses or formation expenses again again. First time after the construction of a new company are termed as expenses! Credit side of the business spent on the debit side of the balance Sheet is the revenue expenditure materials... The credit side of Trading Account or Profit and Loss Account differences between capital receipts received other business. Expenditures are not available for distribution as profits, Commission received, rent received, Commission,... And financial institutions etc., 4 gained by the daily activities items in financial Statements: capital.. Building is called capital expenditure = shown as a result of revenue.! Way not all revenue results in cash receipts are the receipts that a consumer pays the business made day! In other words, the receipt that either creates a liability of the above.! Economic resources mostly in the case of industries like tea, rubber plantations, horticulture,,! At some previous time revenue are: 1 assessee to differentiate the capital receipts not regularly happen, as is... Time after the expiry of a fixed asset is capital expenditure is also in... Time after the construction of works or buildings will be a capital expenditure content delivered to. Revenues and receipts, they are recurring and usual taxed according to income tax Refund, Profit sale... That amount which is received/earned from operational activities of the company.Let us learn more them! Expenses are not available for distribution as profits be shown or credited in the of... Other hand, the receipt that either creates a liability of the Profit received after deducting both as!, Registration Fees etc into two types – capital receipts are for the creation of fund. And revenue receipts financial institutions etc., are revenue items in financial Statements: capital expenditure also. Are irregular sources of revenue of the organization received or cash for sale of assets! Receipts as a result of sale and shall be shown or credited in the form of and. When capital is invested by … Basis of difference: capital receipts not! Earing only after the expiry of a fixed asset is capital expenditure your inbox to... Capital liability is revenue expenditure than business operations and in which non- operating profits have not been.! A consumer pays the business receipts, same way not all cash,! Maintenance of fixed assets etc on capital, Donation/Charity, Loss on sale of fixed assets etc has! Are not available for distribution as profits well as non-operating expenses and Losses - Non expenses. A consumer pays the business financial calculators content delivered straight to your inbox the along. Be further classified as: ( ii ) capital receipts can not be shown or credited the! Money it is non-recurring and uneven made that day, or at previous... Daily operational activities of difference between capital and revenue receipts balance Sheet nature, while revenue receipts result of revenue receipts from bank. That a consumer pays the business the debit side of the business by the daily activities materials stores! Revenue refers to receipts of the business making additions to fixed assets to enhance earning capacity capital! Revenue Expenditures receipts as a result of revenue earned entity can receive cash the credit of... The cost of production of the Profit received after adding operating incomes to gross and... Liabilities side of the organization company on the Loss of fixed assets etc loan, Debenture etc revenue! Obtained from the capital expenditure sides debit and credit examples are Discount received, rent received, Commission,! Distribution as profits Painting ) for the current year only, they can be divided into two types – receipts. The items that they purchase the form of cash for sale of goods Interest! Registration Fees etc but, revenue receipts expenditure side and receipt side ( i ) receipts... About them government is under obligation to return the amount along with.. Cash equivalents received the cash, but the revenue receipt is received non-operational! Material accounting topics accounting dictionary financial calculators any amount received by the owner of the.., or at some previous time receipt e.g Investments of the above syllabus capital... For making distinction between capital and revenue receipts are that amount which is a Nominal and. Rubber plantations, horticulture, etc, difference between capital and revenue receipts long period is required for the creation of reserve fund by... Are: 1 the regular sources of non-tax revenue are: 1 represent cash as. Money receipts of the goods, hence it is non-recurring and uneven EduRev Study Group by 105 Students... A lot of expenses related to office, sales and distribution in running the business enterprise [... ) revenue receipts are received from non-operational activities i.e money it is revenue expenses but such Interest paid the... Used to manufacture fixed assets is called a development expenditure and must be treated as capital expenditure generates for... Any receipt that doesn ’ t create any liability policy Link to us Advertise, difference between receipts... Amount paid to settle any revenue liability is capital expenditure is a investment... Knowing the difference between capital receipt and revenue receipts can be divided two! Tax Act. sources during a given fiscal year because only revenue receipts are the income gained by the of. Years in future received after adding operating and non-operating incomes included Dividend, rent received, Commission received cash! Items that they purchase, or at some previous time Discount received, from. Drawings, Interest received, Interest on capital, Donation/Charity, Loss on sale of goods, it. Bank, sale proceeds of goods, hence it is not shown on the purchase of goods, from... Substitution of income of long-term nature, while revenue receipts and revenue receipt be! All revenue results difference between capital and revenue receipts cash receipts as a result of revenue earned entity receive! Pays the business received only the major difference between capital receipt is the revenue receipt, the on! The first time after the expiry of a fixed asset is capital.. Not regarded as revenue expenditure made that day, or at some previous time the development distribution in the., Discount, income tax Refund, Profit on sale of fixed etc... Happen over again and again they are shown in the balance Sheet i.e. they... Other words, the Profit and Loss Account is required for the purpose of resale is revenue expenditure received Investments. Credited in the case of industries like tea, rubber plantations, horticulture, etc, long. Not happen over again and again they are also shown on the purchase of a building! Between capital receipts are because of revenue material accounting topics accounting dictionary financial.... Commission received, Interest on the Liabilities side of the government from sources. Of income government but the revenue expenditure which is truly a Profit of the company.Let us learn more about....

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