No products in the cart.

Difference between Cash basis accounting and …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

Difference between Cash basis accounting and Accrual basis of accounting.

Posted by Akshaya N 6 years, 10 months ago

CBSE > Class 11 > Accountancy

1 answers

Payal Singh 6 years, 10 months ago

Under the cash basis of accounting:

Revenues are reported on the income statement in the period in which the cash is received from customers.
Expenses are reported on the income statement when the cash is paid out.

Under the accrual basis of accounting:

Revenues are reported on the income statement when they are earned—which often occurs before the cash is received from the customers.
Expenses are reported on the income statement in the period when they occur or when they expire—which is often in a period different from when the payment is made.

ANSWER

http://mycbseguide.com/examin8/

Related Questions

Kuldeep, general merchant, keeps his accounts on that informatio the results of his business on alat March, 2023 and for that following information is ava 1st April, 2022 (1) 1,50,000 31st March, 2023 1,75,000 Cash in Hand 7,50,000 Bank Balance Furniture Stock 6,50,000 Creditors 3,50,000 Debtors 2.50,000 3,00.005 During the your, he had withdrawn ₹5,00,000 for his personal use and as additional capital. Calculate his profits on 31st March, 2023 and Stateme of Affairs as on that date. invested ₹25000円 (Profit - 74 ,75,000)

Posted by Tanishka Thakur 1 month, 1 week ago

CBSE > Class 11 > Accountancy

1 answers

On 1st may 2020 cash book bank overdraft balance was ₹4000 on depositing ₹20,000 into bank and giving a cheque of ₹14,400 for rent the balance will be

Posted by Anshul Verma 1 week, 4 days ago

CBSE > Class 11 > Accountancy

0 answers

sum

Posted by Arifa Meharun 1 month ago

CBSE > Class 11 > Accountancy

0 answers

Define provision

Posted by Sneha Gupta 1 month, 1 week ago

CBSE > Class 11 > Accountancy

1 answers

Journal entries of Q 18. Ch 3

Posted by Harini Brahmbhatt 2 days, 7 hours ago

CBSE > Class 11 > Accountancy

0 answers

Q43. Vikram Ltd. issued 50,000 shares of Rs. 10 each at a premium of Rs. 1 per share payable as follows: Rs. 3 on Application Rs. 4 on Allotment (including premium) Rs. 2 on First Call Balance when required Applications were collected for 46,000 shares and all of these were accepted. Directors did not make final call. A shareholder holding 800 shares did not pay the (Rs.) pending on first call. The shares were forfeited and re-issued at Rs. 7 per share, Rs. 8 per share paid. Pass Cash Book and Journal Entries

Posted by Uditya Jha 20 hours ago

CBSE > Class 11 > Accountancy

0 answers

The following is the trial balance of Zoya steel ltd. As on 31st March 2018

Posted by Ankita Chauhan Ankita Chauhan 3 weeks, 5 days ago

CBSE > Class 11 > Accountancy

0 answers

Difference between expenses and expenditure

Posted by Rehaan Nanda 3 weeks ago

CBSE > Class 11 > Accountancy

1 answers

To know the exact reason leading to net profit or net loss

Posted by Mohit Arora 5 days, 17 hours ago

CBSE > Class 11 > Accountancy

0 answers

Which method is best

Posted by Piyush Sama 1 month, 2 weeks ago

CBSE > Class 11 > Accountancy

0 answers

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Google Play

Download myCBSEguide App