Question

Give sample of Income Expenditure Account

Answer 1

Answer:

Preparation of Income and Expenditure Account

1 Include all items of revenue receipts and expenses, on the respective side of the account.

2 Ensure that no items of capital incomes and expenses are included in this account.

3 Also, adjustment for amounts prepaid and outstanding, with respect to each item will have to be made.

Answer 2

Explanation:

I hv attached the file