Interested to Buy Any Domain ? << Click Here >> for more details...
what is difference between income accrued and income
receivable?
- 5 Answers
- 25955 Views
- I also Faced
- E-Mail Answers
Answer Posted / h.r. sreepada bhagi
Indeed there is difference between the two. Income accrued
refers to the income attributable a period which is
receivable in future but it may or may not be due for
receipt as on the date of closing the accounts.
However, Income receivable refers to those income which are
accrued as well as become due for receipt as on the date of
closing the accounts.
For example, as of 31.03.10 A company has $5,00,000/-
accrued income, but out of this due date for $1,00,000/- is
31.03.10 and the remaining amount is receivable at the end
of next 4 months equally.
As on 31.03.10, $5,00,000/- is accrued income and
$1,00,000/- is receivable. "All receivables, as on a
particular date are accrued, but not necessarily be
receivable" - This because of credit period or future due date.
| Is This Answer Correct ? | 22 Yes | 2 No |
Post New Answer View All Answers
What is combination?
Short Answer on ________Adjusting Entries
explain about mergers & aquisitions? asked on 30/7/09
Expand-------URM
Plz Give the Inventry Accounting Procedure 1.Domestic Purchases ( VAT,CST,& Excise) 2.Import Purchases ( Direct Expences & Excise ) 3.When Will the Price Diffrence Entry Happen? 4.Cash Discount & Trade Discount On Purchases? 5.Domestic Sales ( VAT,CST,& Excise) 6.Export Sales ( Customes ,Excise ) 7.Cash Discount & Trade Discount On Sales?
CLASSIFY THE FOLLOWING INTO REAL,NOMINAL AND PERSONAL- 1.unpaid salaries a/c 2.arvind mills a/c 3.arvind mills shares a/c 4.prepaid rent a/c 5.fire insurance premium a/c 6.life insurance premium a/c 7.petty cash a/c 8.loan given a/c 9.interest received a/c 10.loan received a/c
What is Hot Issue Income for Hedge Funds?
service tax form no ? What is CC Limit ? What is branch accounts?
Example for extra ordinary expenditure?
Expand--------AA
Paid office electricity charges Rs 15000/- and Ram partners residence electricity charges 1250 thr andhra bank cheque
when apply for ragistred in central excise no
Nature of training account with reason
What is the meaning of Debt reconciliation and how to do debt reconciliation?
what is Contra Asset?
