Answer Posted / mohan

Receipt and payment account is nothing but a cash account
which starts with opening balance of cash and all receipts
and payments whether capital or revenue or whether
pertaining to last year,current year,or next year are
recorded.The net result is the closing balance and the
balance is always debit since the payment side can not be
more that receipt side.
As against Income and Expenditure account only records
revenue expenditure whether paid or not and only pertaing
to current year.
The non cash expenses like depreciation are also recored in
Income and Expenditure Account.
The resultant figure of Income and expenditure account is
either excess of income over expenditure or excess of
expenditure over income.
Thus the income and expenditure can have debit or credit
balance.
Receipt and payment account is prepared for all types of
organisations including profit making organisations.
The Income and Expenditure account is only prepared by Non-
profit making organisation.

what you mean by cross dunning

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Dear All, myself B.k Singh graduate with B.Com and PGDBM - Finance, I was worked with Service Company for 6 yrs.Now past 2yrs working with Real Estate,moreover I want to some course short term, plz guide me.

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Office cash was stolen? state whether the following transcation is business transcation or non business transcation?

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what is the core accounts

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what is the uniform public construction cost accounting act?

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Assets are held in the Business for the purpose of____________________

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after directing tally 9 to calculate interest as per 30 day option basis on a loan account.........,it still calculates interest as per calender month when checked on to display>statements of accounts>interest payable in tally 9 ...where is the error?? how to correct the function.

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What is the process of VAT & CST Registration?

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You been asked to prepare a training class for completing expense statements. What points will you emphasize to insure accurate expense statements are submitted?

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Dear Sir, My qus is my co. purchase a laptop from Abc.co. for rs-37200 on credit Emi basis from hdfc bank. i paid every month 6200rs as a installment. so i want to know how i make a entry in tally 9. and also want to know i creat laptop ledger under fixed assets or office expenses. plz tel me soon.or mail me .

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which name written in Tan application form Applicant is sole proprieter companies name or individual name?

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1. Cold Ice, Inc. sells ice cream sells for $2 each. The variable costs per ice cream are $1 and the fixed overheard costs are $ 0.35. A summer camp wants to place a one-time order for 100 cone of ice cream at a price of $ 1.25 each. What is the minimum price hot dogs should be charge for this special order?

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What are events occuring after the balancesheet date?

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What is Acquisition?

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Aravinda Financiers sanctioned a loan of Rs 250000. A cheque was sent after adjusting processing charges Rs 247250 Pass necessary entry

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