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Answer Posted / satyaki_raju@yahoo.com
Income is the term used to indicate the amount received or
receivable which would be the source of earning profit.
Profit is the surplus of income over expenditure.
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Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.
Can anyone plz. tell me where can i get the proforma application for DAO.I have tried all the links but i couldn't find any application proforma in the notifications.
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If income and expense both are equal then what it depicts
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who introduces the single entry format?
Expand-------ACNS
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