Question

explain the steps necessary to prepare an income and expenditure accoount from a receipts and payment account.......




please tell me in hindi


and it is urgent.......❤❤❤​

Answer 1

income and expenditure A/C ek non profit organisation banati h taki vo apne surplus(profit) or deficit (losses) jaan sake okay now ye ek summary h sare incomes or expenditures ki kuki isme cash or non cash dono transactions aate h (whether you have received the money or not) income& expen... A/C nominal hota h iska mtlb dr expenses and losses and cr all incomes and gains simple h

Answer 2

The income and expenditure account is an account prepared by non-trading concerns to ascertain surplus or deficit of income over expenditures for a particular period. ... The accrual concept of accounting is strictly followed while preparing income and expenditure account of non-trading entities.

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