Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / h.r. sreepada bhagi
In Accounting the terms Capital & Revenue have a broader
meaning than just Owners Equity & Income.
Nature of the transaction may be Capital or Revenue - i.e.
it may be Capital Expenditure, Capital Receipt, Revenue
Expenditure or Revenue Receipt.
Capital Expenditure - Expenditure on Acquiring or Purchasing
Fixed Assets (Capital items)
Capital Receipt - Money Received on the sale or transfer of
Fixed Assets (Capital items)
Revenue Receipt - Money received in the ordinary course of
business from business operations.
Revenue Expenditure - Money spent in the ordinary course of
business to meet normal running expenses of the business.
Capital - The money invested in a business of profession or
any venture to earn profit by utilising the money for the
intended purpose.
Revenue - Simply Income or Receipt of money in the normal
course of operations.
| Is This Answer Correct ? | 6 Yes | 0 No |
Post New Answer View All Answers
Is it legal for an organization to keep two sets of accounting records; one for tax and one for book? Why or why not?
journal entry for goods withdrawn for personal use
What would be the entry at the time of Generating Tution Fee Challan for Advance fees. (e.g In the Month of April, Fees of June and July in being asked to pay by school to their students?,
What Is Differ tax,
X draws a bill on Y for Rs 20,000 for 3 months on 1.1.05. The bill is discounted with banker at a charge of Rs 100. At maturity the bill return dishonoured. In the books of X, for dishonour, the bank account will be credited by Rs. (a) 19,900 (b) 20,000 (c) 20,100 (d) 19,800
what is the performa of bank reconcilation ? i want to need it and also i want to know about tds entry for various sources such as rent,contractor, commission, etc. and how we make the tds return, please tell me its very urgent?
What is accounting normalization?
What is the depreciation rates for all the assets?like plant & Machinery,computers,software,land & buildings
on 02/05/2013 issued a cheque to third eye ltd of Rs.14000/- in full and final settlement against the due on amount
How the Entry passed for Loss of Payment
Were i have to enter for agreements in tally and in which ledger it will come
What are the 4 principles of gaap?
Do you know what qualities and skills make an account manager successful?
What is cotangent Account?
We have purchased some good from our vendor and we asked them to transport the same to some address but they have raised a debit note to us for transportation instead of invoice. Same like we have given some order to manufacture for developing that product they have charged some amount for that also they have raised the debit note. How to account these type of debit notes in tally..?
