Enrich your vocabulary
Belated
How to Pronounce: be –lay -ted
Part of Speech: adjective
Meaning: after the expected time or date delayed
Usage: Belated wishes for your birthday. I am Sorry; I forgot to wish you yesterday
A Count on
The two Income and Expense Accounts are used to increase or decrease the value of your accounts.
Thus, while the balance sheet accounts simply track the value of the things you own or owe, income and
expense accounts allow you to change the value of these accounts.
Income is the payment you receive for your time, services you provide, or the use of your money. When
you receive a paycheck, for example, that check is a payment for labor you provided to an employer.
Other examples of income include commissions, tips, dividend income from stocks, and interest income
from bank accounts. Income will always increase the value of your Assets and thus your Equity.
Expenses refer to money you spend to purchase goods or services provided by someone else.
Examples of expenses are a meal at a restaurant, rent, groceries, gas for your car, or tickets to see a
play. Expenses will always decrease your Equity. If you pay for the expense immediately, you will
decrease your Assets, whereas if you pay for the expense on credit you increase your Liabilities.
Trending Now
Budget 2014: Why Arun Jaitley should cut Income tax:
In the run-up to the elections, a part of the BJP leadership spearheaded by current Transport Minister
Nitin Gadkari talked about a revolutionary income tax proposal that was touted as a gamer-changer by
many in the party.
The proposal suggested abolishing income tax and replacing it with a bank transaction tax to boost the
government's finances and ease tax burden on salaried individuals. That proposal met stiff resistance
from senior BJP leaders like Arun Jaitley, who opposed the plan on grounds that the measure would have
blurred the distinction between the rich and the poor.
Bull R Bear
Sensex up by 376.95 points, reaching 25,396.46 & Nifty up by 109.30 points reaching 7583.40 points.
1 USD = Rs 59.19/-, 1 GBP = Rs 99.51/-, 1 Euro = Rs 80.83/-
10 Grams Gold (24Carat) = Rs 25,885/-, 1Kg Silver = Rs 40,084/-
Excellent Tip
To hide current row press ctrl+9
Joke of the Day
Our friendship means a lot to me.
U cry i cry. U laugh i laugh.
U jump out of the window
I look down & then
.
I laugh again
Life Line
Don't cry because it's over, smile because it happened
Health Guide
If you’re allergic to your cat, dog, budgie or pet piglet, stop suffering the ravages of animal dander: Install
an air filter in your home.
Keep your pet outside as much as possible and brush him outside of the home to remove loose hair and
other allergens. Better yet, ask someone else to do so.
Credentials : Pradyu, Suri, Santu, Paru, Satya
Belated
How to Pronounce: be –lay -ted
Part of Speech: adjective
Meaning: after the expected time or date delayed
Usage: Belated wishes for your birthday. I am Sorry; I forgot to wish you yesterday
A Count on
The two Income and Expense Accounts are used to increase or decrease the value of your accounts.
Thus, while the balance sheet accounts simply track the value of the things you own or owe, income and
expense accounts allow you to change the value of these accounts.
Income is the payment you receive for your time, services you provide, or the use of your money. When
you receive a paycheck, for example, that check is a payment for labor you provided to an employer.
Other examples of income include commissions, tips, dividend income from stocks, and interest income
from bank accounts. Income will always increase the value of your Assets and thus your Equity.
Expenses refer to money you spend to purchase goods or services provided by someone else.
Examples of expenses are a meal at a restaurant, rent, groceries, gas for your car, or tickets to see a
play. Expenses will always decrease your Equity. If you pay for the expense immediately, you will
decrease your Assets, whereas if you pay for the expense on credit you increase your Liabilities.
Trending Now
Budget 2014: Why Arun Jaitley should cut Income tax:
In the run-up to the elections, a part of the BJP leadership spearheaded by current Transport Minister
Nitin Gadkari talked about a revolutionary income tax proposal that was touted as a gamer-changer by
many in the party.
The proposal suggested abolishing income tax and replacing it with a bank transaction tax to boost the
government's finances and ease tax burden on salaried individuals. That proposal met stiff resistance
from senior BJP leaders like Arun Jaitley, who opposed the plan on grounds that the measure would have
blurred the distinction between the rich and the poor.
Bull R Bear
Sensex up by 376.95 points, reaching 25,396.46 & Nifty up by 109.30 points reaching 7583.40 points.
1 USD = Rs 59.19/-, 1 GBP = Rs 99.51/-, 1 Euro = Rs 80.83/-
10 Grams Gold (24Carat) = Rs 25,885/-, 1Kg Silver = Rs 40,084/-
Excellent Tip
To hide current row press ctrl+9
Joke of the Day
Our friendship means a lot to me.
U cry i cry. U laugh i laugh.
U jump out of the window
I look down & then
.
I laugh again
Life Line
Don't cry because it's over, smile because it happened
Health Guide
If you’re allergic to your cat, dog, budgie or pet piglet, stop suffering the ravages of animal dander: Install
an air filter in your home.
Keep your pet outside as much as possible and brush him outside of the home to remove loose hair and
other allergens. Better yet, ask someone else to do so.
Credentials : Pradyu, Suri, Santu, Paru, Satya
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