Amount received on sale of old news paper --------receipt
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Answer / dharmesh sati
It is depend on the business type
If your business is sales of new paper than
Under Revenue & If not than
Should be recored in Other Income
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Answer / shivarama raju
this should be bases on nature of company
that is
if it is non- porift / service organisatin
its a revenue
if it is a business ompany
income form other sources/ other incomes( which is not rise
due to operations of the company)
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DEAR ALL, HOW TO ACCOUNT THE SALARY ADVANCE A/c. I HAVE TAKEN AN ADVANCE OF Rs.25000/-. I HAVE DEBITED SALARIES ADVANCE A/c AND CREDITED THE PETTY CASH A/c in TALLY. I dont't know whether it is correct or not. If correct, in my individual ledger no entry is reflected. Alternatively, if I debit my self and credit petty cash a/c it is reflected in the P & L Account, but it is not an expense. and not reflected in the balance sheet, but reflected in P & L. I think I need to put a journal entry. Like debiting the salary account and crediting the salary advance account. Is this correct or not? Can any one help me please. my mail add: cdvijay100@yahoo.co.in or kmlnkml@live.com
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