Drawing account is used to reduce the capital by the owners of the business from business that's why it is called the contra account for equity account.
Salaries are require to be paid every month so it is a recurrent expenditure of business and called the revenue expenditures.
Amount received from sales of goods or services in normal routine of business and goods and services related to normal business of the company are considered revenu.For Example: if company is in flower business so sales of flowers and earning from flower sales is called revenue but if money earned through sale of some books which is not primary business of company is not revenue.
capital accounts
For a normal business it is Profit or Loss (depending upon which is greater) For a non-profit organisation (eg a Charity) it is Surplus or Deficit.
Drawing account is used to reduce the capital by the owners of the business from business that's why it is called the contra account for equity account.
The answer is income summary.
Salaries are require to be paid every month so it is a recurrent expenditure of business and called the revenue expenditures.
All the expenses which a business incurred from start of business to actual start of operations of revenue generating activity of business is called preliminary expenses.
The income summary is also referred to as the revenue summary or the profit and loss statement. It serves as a temporary account used to close revenue and expense accounts at the end of an accounting period.
Amount received from sales of goods or services in normal routine of business and goods and services related to normal business of the company are considered revenu.For Example: if company is in flower business so sales of flowers and earning from flower sales is called revenue but if money earned through sale of some books which is not primary business of company is not revenue.
Then only they find the real profit or loss and financial position of the businessBecause the capital expenditure will take place to Balance sheet and revenue expenditure will go to profit and loss account. Capital expenditure also called asset of the business. These expenditure also called non-recurring nature expenses.Revenue expenditure also called recurring nature expenses.
The sale of assets is considered revenue because it represents the income generated from the disposal of resources that were previously held by the business, such as land, buildings, or equipment. On the other hand, the sale of goods is not considered revenue because it is part of a company's regular operating activities and represents the core business activity of selling products or services. Revenue from the sale of goods is typically categorized as sales or product revenue.
Let me give you my little understanding about his two subjects. Merchandising is also called merchandise planning while visual merchandising is the art of implementing effective design ideas.
the amount received through selling rooms. it can be calculated in REVPAR (Revenue per available room) and REVPOR (Revenue per occupied room)
Then only they find the real profit or loss and financial position of the businessBecause the capital expenditure will take place to Balance sheet and revenue expenditure will go to profit and loss account. Capital expenditure also called asset of the business. These expenditure also called non-recurring nature expenses.Revenue expenditure also called recurring nature expenses.
Revenue