You purchased 10 shares of L&T Company last year. On 5th March 2019, t

1.	You purchased 10 shares of L&T Company last year. On 5th March 2019, the company has declared a dividend Rs 50 per share. The income is earned but not yet collected in your account during this financial year. Define and identify the type of Income / Expenses. Treatment of the Income / Expenses in the Profit and Loss account. Treatment of the Income / Expenses in the Profit and Loss account, Impact of the Income / Expenses in the Balance Sheet.
Answer» EXPLANATION: You purchased 10 shares of L&T Company last YEAR. On 5th MARCH 2019, the company has declared a dividend Rs 50 per SHARE. The income is earned but not yet collected in your account during this financial year. Define and identify the type of Income / Expenses. Treatment of the Income / Expenses in the Profit and Loss account. Treatment of the Income / Expenses in the Profit and Loss account, Impact of the Income / Expenses in the Balance Sheet.

You purchased 10 shares of L&T Company last year. On 5th March 2019, the company has declared a dividend Rs 50 per share. The income is earned but not yet collected in your account during this financial year. Define and identify the type of Income / Expenses. Treatment of the Income / Expenses in the Profit and Loss account. Treatment of the Income / Expenses in the Profit and Loss account, Impact of the Income / Expenses in the Balance Sheet.

Answer»

You purchased 10 shares of L&T Company last YEAR. On 5th MARCH 2019, the company has declared a dividend Rs 50 per SHARE. The income is earned but not yet collected in your account during this financial year. Define and identify the type of Income / Expenses. Treatment of the Income / Expenses in the Profit and Loss account. Treatment of the Income / Expenses in the Profit and Loss account, Impact of the Income / Expenses in the Balance Sheet.

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