whatis mean by accured income?
Answers were Sorted based on User's Feedback
Answer / a.madhu sudhan rao
Accured income means outstanding income
It means that the income which is receiavable
we have to show at Assets Side
For Example during the financial year Purchase is 100000
and sales 150000
profit = 50000
we recieved 40000 during the year and remaining 10000
is accrued income.
Imp: we have to add 10000 to Sales ( 40000+ 10000 )and
again we have to show assets side
| Is This Answer Correct ? | 23 Yes | 7 No |
Accrued income mean,whiche income earned in current
accounting year but not receve this year, its receive next
year,Example, interest on investment as on 31/03/2008 but
he is only so balance sheet assets sid and he receive next
accounting year after march so its is a my assets ,
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / h.s.sarda
If fd is made for 2 years, interest is rs. 2000/- for 2
years. acutually recd. after maturity of 2 years. But at
the time of closing for 1st year, we have to record rs.
1000/- as a interest receivable.
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / parisha shalini
Income that is earned in a fund or by company by providing
a service or selling a product, but has yet to be received.
Mutual funds or other pooled assets that accumulate income
over a period of time but only pay it out to shareholders
once a year.
| Is This Answer Correct ? | 0 Yes | 1 No |
What is General Ledger
17 Answers Accenture, Bank Exams, OMO, Scope International,
What three Specific Job Positions do you target from the Industry
0 Answers GSK GlaxoSmithKline,
Expand C B D T
Wat is the security analysys?what is portfolio management? wat is the difference between security analysys@portfolio management?
Expand---------DEP
Paid office electricity charges Rs 15000/- and Ram partners residence electricity charges 1250 thr andhra bank cheque
what is debentures
31 Answers eClerx, IBM, Syntel,
why you want to join the banking and finance industry?
You are given the following information in respect of a company: Fixed cost –Rs.13,000 Variable cost –Rs.14,000 Net profit –Rs.3,000 Net sales-Rs.30,000 Find out: a>BEP b>The profit for sales volume of Rs.50,000 c>The volume of sales to make a profit of Rs.10,000
after adjusting the amounts accountant of the company prepares which accounts??
discuss how accrual concepts and matching concepts are the same
what is gross profit?