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whatis mean by accured income?
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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 |
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