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Where are the revenue receipt shown …

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Where are the revenue receipt shown while preparing financial accounting of a firm

Posted by Namanpreet Singh Deol 6 years, 9 months ago

CBSE > Class 11 > Accountancy

1 answers

Gayatri Nanda 6 years, 9 months ago

It is shown in profit and loss account on the credit side. It is shown in the Balance Sheet on the liability side. Capital receipt, when invested, produces revenue receipt e.g. when capital is invested by the owner, business gets revenue receipt (i.e. sale proceeds of goods etc.).

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