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Gross Income is a term used in the Charities Act 1993 in
relation to thresholds for scrutiny of non-company charity
accounts, the preparation of accruals accounts, preparation
of annual reports and submission of annual reports and
accounts to the Commission.
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what are the content of purchase order?
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Suppose My received Interest Income is 24934.59 And for the same time my Bank Charge total is 7785.19. Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt. Account.What will be the Journal Entry for 17149.40. Here, Already Bank Charge 7785.40 is Already Debited and 24934.59 is already credited in Journal.
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