WebbThe logic of preparation of Income and Expenditure Account from the Receipts and Payments Account along with the necessary information, you will easily understand the …

2nd PUC Accountancy Question Bank Chapter 2 Accounting for …

WebbAt first, Receipts and Payments Account is prepared by analyzing the Cash Book—subsequently, Income and Expenditure Account is prepared in the following manner: Exclude the opening and closing balance of receipt and payment account. Exclude all the payment items. Exclude all revenue items relating to last or ... Webb6 juni 2024 · Receipt and payment account functions as a summary of cash payments and receipts of an organisation during an accounting period. Receipt and payment account … osprey cottage meigle

Receipt And Payment Account [q6ngq3pdk6lv] - idoc.pub

Webb4 maj 2024 · The statement prepared by the liquidator showing receipts and payments of cash in case of voluntary winding up is called “Liquidators’ statement of account”. The liquidator has to submit a report along with the audited final accounts to the CRO. There is no double entry involved in the preparation of the liquidator’s statement of account. Webb6 juni 2024 · Income and Expenditure Account of NPO. The income and expenditure account is similar to profit and loss of trading concern. It is a summary of all nominal accounts. The income and expenditure account is prepared by taking all incomes and expenditures. All incomes are recorded in the credit side. All expenditures are recorded … Webb1.3 Receipt and Payment Account It is prepared at the end of the accounting year on the basis of cash receipts and cash payments recorded in the cash book. ... Illustration 2 From the Receipt and Payment Account given below, prepare the Income and Expenditure Account of Clean Delhi Club for the year ended March 31, 2024. osprey capital partners inc