Name an item which is never shown on the 'Payments' side of

`Receipts and Payments Account', but is shown as an Expense while

preparing 'Income and Expenditure Account'.

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Solution

Hi Jugal, Depreciation should never be shown on the Payments side of Receipts and Payments A/c but should always be included in the Income and Expenditure A/c (Expenditure side).

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Name an item which is never shown on the 'Payments' side of `Receipts and Payments Account', but is shown as an Expense while preparing 'Income and Expenditure Account'.

Hi Jugal, Depreciation should never be shown on the Payments side of Receipts and Payments A/c but should always be included in the Income and Expenditure A/c (Expenditure side).

Name an item which is never shown on the 'Payments' side of

`Receipts and Payments Account', but is shown as an Expense while

preparing 'Income and Expenditure Account'.