What is mean by acquired income?
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Answer / praveen kumar
The income has been earned but not yet received
| Is This Answer Correct ? | 22 Yes | 7 No |
Answer / h.r. sreepada bhagi
A wrong question & an incorrect answer by the same person.
Praveen if you can answer your own question, this forum need
not be used, isn't it? Be clear on the meaning of the words
you use.
If you say acquired income, it implies, income received &
this terminology is not in use in Accounts. There is
accounting term called 'Accrued Income'- Which means, income
earned or receivable for a period but not received at the
end of that accounting period. For example a property is let
out and at the end of the month rent for that month is not
received, this is called Rental Income accrued but not
received. Accrued Income appears in the P&L A/c as well as
in the Balance Sheet.
A wrong question & wrong answer would misguide others, so
desist from posting such things.
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / ca nirav radia
hello mr praveen this is nirav here it should be accrued
income and not acquired income an income which is accrued
but not received but an income is already credited in the
books of accounts.
| Is This Answer Correct ? | 6 Yes | 0 No |
2. A budgeted profit statement of a company working at 75% capacity is provided to you 2 below, Sales 9,000 units at Rs. 32 Rs. 2,88,000 Less: Direct materials Rs. 54,000 Direct wages 72,000 Production overhead: fixed 42,000 variable 18,000 1,86,000 Gross profit 1,02,000 Less: Administration, selling and distribution costs: fixed 36,000 varying with sales volume 27,000 63,000 Net profit 39,000 You are required to: (a) Calculate the breakeven point in units and in value. (b) It has been estimated that: (i) if the selling price per unit were reduced to Rs. 28, the increased demand would utilise 90% of the company's capacity without any additional advertising expenditure, and (ii) to attract sufficient demand to utilise full capacity would require a 15% reduction in the current selling price and a Rs. 5,000 special advertising campaign. You are required to present a statement showing the effect of the two alternatives compared with the original budget and to advise management which of the three possible plans ought to be adopted, i.e., the original budget plan or (i) above or (ii) above. (c) An independent market research study shows that by spending Rs. 15,000 on a special advertising campaign, the company could operate at full capacity and maintain the selling price at Rs. 32 per unit. You are required to: (i) Advise management whether this proposal should be adopted.
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