0
What else can I help you with?
What happens when expenditure exceeds income?
We can say that the business is in profit
Is credit income or expenditure?
Credit is neither an income or an expenditure. It becomes an expenditure when you use it. expenditure
What is a sample cash budget?
A sample cash budget will just indicate the various sources of revenue and how it is to be spent. A cash budget is influenced by previous income and expenditure ventures.
What accounts go on the income statement?
Question of business transition
What is between revenue and expenditure?
revenue is income and expenditure is an expense
Distinquish between savings and financial surplus?
This is the difference between Income and Expenditure in a non-profit making business, where the income exceeds expenditure
What happens when expenditure exceeds income?
We can say that the business is in profit
Income and Expenditure Account Meaning?
Income - is any money being paid into the business. Expenditure is anything paid out - from a paper-clip to a company car
Is credit income or expenditure?
Credit is neither an income or an expenditure. It becomes an expenditure when you use it. expenditure
What do you mean by income over expenditure or expenditure over income?
income over expenditure is profitexpenditure over income is loss
What is a sample cash budget?
A sample cash budget will just indicate the various sources of revenue and how it is to be spent. A cash budget is influenced by previous income and expenditure ventures.
Will business accounts help you require your needs in life?
"Business accounts will definitely help you acquire your needs in life. If you have business accounts open, that usually means you are generating an income in one or more accounts."
Sample of income and expenditure?
loan purchase old bus how will enter the accountbook loan purchase old bus how will enter the accountbook
What accounts go on the income statement?
Question of business transition
Is it possible to have a negative net income and positive cash flow?
Yes and No. If the method of accounting followed is Mercantile, Yes. If the method of accounting followed is Cash System, No. In Mercantile method of Accounting, Negetive Income represents the excess of expenditure over income. In this method; Income and Expenditure considered are on accrual basis, i.e., income or expenditure is taken as such in the books of account; the moment a right to receive income or a liability to pay for expenditure has crytallised. The movement fo cash into the business or out of business is not the criteria. Therefore, inspite of a negative income in a particular year, a business may have a positive Cash flow on account of excess of cash flow arising out of previous years income, which is held as an asset in the form of Sundry Debtors, over the payments made in respect of previous years expenditure which is held as a liability in the form of Sundry Creditors on the balance sheet.
What is the difference between income and expenditure incurred?
Inflow of money is income . Outflow of money is expenditure
What accounts will not be closed to the Capital account at the end of the fiscal year?
All income and expenditure accounts are closed at Year End. and the balance is is shown on the Balance Sheet at Year end.
