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Revenue expenditure is the short term expenses required to meet an ongoing operational need in the business. In another word, that expenditure which is incurred in connection with the operation and administration of daily activities of the business is called revenue expenditure. Benefits of revenue expire within a year. Expenditure of revenue is shown on a debit side of the trading and profit and loss accounts.Revenue expenses include repairs and regular maintenance as well as repainting and renewal expenses of available assets too. Revenue expenditure incurred in acquiring raw materials for manufacturing process or finished goods for resale.
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An opening entry is the initial entry used to record the transactions occurring at the start of an organization. The contents of the opening entry typically include the initial funding for the firm, as well as any initial debts incurred and assets acquired.
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Mukul Mittal 6 years, 2 months ago
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