Which of the following is shown on the credit side of income and expenditure account?
A) Printing and Stationery
B) Received rent of hall
C) Donation
D) Subscriptions
E) Capital fund
F) Outstanding salary
G) Bank overdraft
Choose the correct answer from the options given below.
Answer & explanation
Correct answer: option 3
The correct answer is option 3- BCD.
A) Printing and Stationery- Debit side of income & expenditure A/c
B) Received rent of hall- Credit side of income & expenditure A/c
C) Donation- Credit side of income & expenditure A/c
D) Subscriptions- Credit side of income & expenditure A/c
E) Capital fund- Liability side of balance sheet
F) Outstanding salary- Liability side of balance sheet
G) Bank overdraft- Liability side of balance sheet