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प्रश्न
Receipts and payments account records receipts and payments of _____________.
विकल्प
Revenue nature only
Capital nature only
Both revenue and capital nature
None of the above
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उत्तर
Receipts and payments account records receipts and payments of Both revenue and capital nature.
APPEARS IN
संबंधित प्रश्न
Write the word/phrase/term, which can substitute the following sentence.
The receipts which are not recurring in nature.
Credit side of receipts and payments account shows cash ______.
From the information given below, prepare the Receipts and Payments account of Kurunji Sports Club for the year ended 31st December, 2018.
| Particulars | ₹ | Particulars | ₹ |
| Cash in hand (1.1.2018) | 4,000 | Paid for printing charges | 2,500 |
| Salaries paid | 3,000 | Lockers rent received | 1,000 |
| Life membership fees received | 10,000 | Tournament receipts | 14,000 |
| Subscription received | 15,000 | Tournament receipts | 10,500 |
| Rent received | 2,000 | Investments purchased | 25,000 |
Write the steps in ascending order of Conversion of a Receipt and Payment Account into an Income and Expenditure Account:
(i) Adjusting the revenue receipts on the debit side to include outstanding incomes and incomes relating to the current year received earlier and to exclude amounts received in arrears or in advance.
(ii) identifying and showing non-cash expenses and losses on the debit side of the Income and Expenditure Account.
(iii) computing and showing profits/losses from trading and/or social activities on the credit/debit side of the Income and Expenditure Account.
(iv) Ascertaining the surplus or deficit as the dosing balance of the Income and Expenditure Account.
(v) adjusting revenue payments on the credit side.
Identity the type of fund stated below:
'Himanshu Club has a fund which can only be used for the distribution of prizes.'
Sports expenses ₹ 27,000 (excluding ₹ 7,000 unpaid expenses). The amount to be credited to Receipts and Payments Account will be:
Subscription received by a school for organising annual function is treated as ______.
The Receipts and Payments Account is a summary of ______.
If a general donation of smaller amount is received by a school, that donation will be shown on ______.
Do you agree or disagree with the following statements:
All receipts are the items of revenue income.
