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Gain on sale of land is an asset or revenue?
It's a revenue. However, it's not a "Sales revenue", it's a "Other revenue".
Is it true that a loss occurs when your revenue exceeds your expenses?
False, revenue is gain
When is a gain on disposal of an asset recorded?
A gain is recorded when the asset is sold for a price greater than the assets book value.
What is a disposal account in accounting?
A disposal account is a gain or loss account that appears in the income statement, and in which is recorded the difference between the disposal proceeds and the net carrying amount of the fixed asset being disposed of.
What is the difference between total revenue and operating revenue?
Operating revenue is revenue generated from prime activity of business, or the typical activity that is reoccurring in nature. on the other hand Non Operating revenue is the revenue from source that is not related to the typical activity of business. It may include gain from investment (if organization is not itself a financial institution) , gain from property or by selling some asset or gain from currency exchange. Total Revenue is the sum of both Operating revenue and non operating revenue. For example: Abc Co manufacture furniture, the revenue from selling furniture is $50000 and it also sell its one of its property at $45000 that ABS Co bought several years ago for $40000. .. operating revenue---------= $50000 non operating revenue(45000-40000)= $ 5000 total revenue (50000+5000) $ 55000
Gain on sale of land is an asset or revenue?
It's a revenue. However, it's not a "Sales revenue", it's a "Other revenue".
Is it true that a loss occurs when your revenue exceeds your expenses?
False, revenue is gain
Accounting entries for disposal of subsidiaries?
Debit cash proceeds Credit investment credit gain on loss of disposal
When is a gain on disposal of an asset recorded?
A gain is recorded when the asset is sold for a price greater than the assets book value.
What is a disposal account in accounting?
A disposal account is a gain or loss account that appears in the income statement, and in which is recorded the difference between the disposal proceeds and the net carrying amount of the fixed asset being disposed of.
What is the difference between total revenue and operating revenue?
Operating revenue is revenue generated from prime activity of business, or the typical activity that is reoccurring in nature. on the other hand Non Operating revenue is the revenue from source that is not related to the typical activity of business. It may include gain from investment (if organization is not itself a financial institution) , gain from property or by selling some asset or gain from currency exchange. Total Revenue is the sum of both Operating revenue and non operating revenue. For example: Abc Co manufacture furniture, the revenue from selling furniture is $50000 and it also sell its one of its property at $45000 that ABS Co bought several years ago for $40000. .. operating revenue---------= $50000 non operating revenue(45000-40000)= $ 5000 total revenue (50000+5000) $ 55000
How does internal revenue code define long term capital gain?
What is the importance of guest?
it will help the hotel or stablishments to gain and imcrease the revenue:)
What is the importance of guest service?
it will help the hotel or stablishments to gain and imcrease the revenue:)
What is sales realization?
A sales realization is the disposal of assets to generate revenue. A sales realization occurs when the money is received against the item that was sold.
By what means could rulers gain regular revenue from local trade?
By imposing taxes.
Where does revenue comes from?
The revenue source depends on what product or service a certain business offers to the public community. As they continue to sell products and render service to clients that paid for it, they generate revenue from their patrons and use that revenue to improve their product and services - to gain more revenue in the next few days or months of their business on their target industry.
