Interested to Buy Any Domain ? << Click Here >> for more details...
Briefly explain the difference between receipt & payment and
income & expenditure account.
- 3 Answers
- 10343 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Receipt & Payment is the abstract of movement of funds
during an accounting period - It covers all Payments &
Receipts by cash & through bank. It shows net inflow or out
flow of money during that period
Where as Income & Expenditure is the abstract of operations
during an accounting period. It covers all income & expenses
related to that period, whether or not it is paid in that
period. It shows excess of Income over expenditure or excess
of expenditure over income during that period.
| Is This Answer Correct ? | 18 Yes | 1 No |
Answer / aparna tiwari
receipt& paymnet a/c is a cash a/c whereas income &
expenditure a/c is a P/l a/c.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / arjun
income and expenditure a/c is based on accruel basis while
receipts and payment ac is based on cash basis.
| Is This Answer Correct ? | 2 Yes | 0 No |
WHAT IS THE DIFFERENCE BETWEEN ESTIMATED BALANCE SHEET & PROJECTED BALANCE SHHET
what is the differance between bank od and bank occ?
Sanjay Ltd invited applications from the public for the issue of 10,000 equity shares of Rs. 10 each at a premium of 20%, payable Rs. 3 on application; Rs. 5 on allotment including premium and the balance in two calls of an equal amount. Applications for 15,000 equity shares were received. The directors allotted 10,000 shares to all the applicants on pro-rata basis adjusting the excess application money towards allotment. All money due on allotment and calls were received. Give journal entries to record the above transactions in the books of the company. Also show the balance sheet.
what is liability
when I make a telephone payment to Airtel, under which group airtel fall?
When goods are returned, how about the Tax collected on them.? The Buyer or the seller who will bear that /
How to pass workscontract sale invoice which includes WCT & VAT.
what is the journal entry for accumulated depreciation?
Do you know what is balance sheet?
why capital is a liability ?
we are import a cnc machine, we have availed customs duty, CVD & Additional duty credit?
What knowledge should financial accountant have?
Audit 
