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Question
Under which head following revenue items of a financial company will be classified or shown:
(i) Gain (Profit) on Sale of Building;
(ii) Revenue from Project Consultancy Rendered;
(iii) Sale of Scrap;
(iv) Interest earned on Loans; and
(v) Gain (Profit) on sale of Investments?
Ledger
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Solution
| ITEMS | HEAD |
| Profit on Sale of Building | Other Income |
| Revenue from Project Consultancy Rendered | Other Income |
| Sale of scrap | Other Income |
| Interest earned or Loans | Revenue from Operations |
| Profit on Sale of Investment | Revenue from Operations |
shaalaa.com
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