What is the difference between Receipt & Payment Account
and Income & Expenditure Account?
Answer Posted / rameshsaravanan
R&P is just like cash account
I & E is just like P&L Account
All this account maintain in service sector
| Is This Answer Correct ? | 108 Yes | 33 No |
Post New Answer View All Answers
what is the cost and financial accounting? what is double entry system ?
Short Answer on ________Adjusting Entries
Expand------------STRA
When is the profession tax applicable? Is there a liability on the employer to pay PT? What is the amt of PT in case salary exceed Rs. 10,000/- pm
AN ESTIMATE OF ASSETS AND LIABILITIES ON AGIVEN DATE
Two months rent of Rs 25000/- was adjusted in Rental advance account at the time vacating office
i have need full detail of tds rules and forms submitted dovetails
Whether construction of office cum storage comes under CMA under Agriculture or Non Farm Sector
What Are The Characteristics Of Modern Accounting?
If i have a company in India doing purchase from Shrilanka, If i buy in Shrilankan local currency and make the payments in Indian Currency At the end of year how shall i settle the difference Exchange money in Books of Accounts.
what is mba tell me the more benefits in mba
ACCOUNTING STANDARDS ISSUED BY INSTITUE OF CHARTERED ACCOUNTANCY INDIA FOR PREPARING FUND FLOW STATEMENT
Which Exchange determine Foreign ?
Expand ________FOR
From the following find out a. Profit Volume ratio b. Break even point c. Sales for 40% P/V Ratio d. Margin of safety from the sales Rs 3,00,000 e. Net profit from the sales of Rs 3,00,000 f. Required sales for the new profit of Rs 70,000 g. Required sales for the net profit of Rs 70,,000 after tax, the corporate income tax being 40% h. Additional sales required to convert an increase of Rs 3000 p.a. in the sales manager salary Sale 2,00,000 Variable Overheads 1,50,000 Profit 50000 Fixed overheads 15000 Net profit 35000 Sl No Heads of Account Debit Rs Credit Rs 1 Drawing and Capital 750 15,000 2 Stock as on 01.01.2009 69720 3 Bills Receivable and bills payable 1000 1180 4 Returns 300 320 5 Purchases and Sales 4500 8300 6 Wages 70 7 Discount 30 8 Salaries 200 9 Canara Bank Shares 3000 10 Insurance 120 11 Building 3000 12 Furniture 700 13 Debtors and Creditors 600 1300 14 Cash in Hand 470 15 Overdraft at bank 900