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Classify the following transactions as either Revenue Receipts or Capital Receipts: selling solar lamps, selling energy-saving stoves, receiving government grants, selling old packaging crates.

Accounting

ScanSolve AI Answer

here's the classification of the transactions:

  • Revenue Receipts:

    • Money received from customers (e.g., from selling solar lamps and energy-saving stoves).
  • Capital Receipts:

    • Occasional grants (specifically the government grant used to buy a delivery bicycle).
    • Money received from selling old packaging crates.

Here is the completed list:

  • Revenue receipt:

    • Selling solar lamps
    • Selling energy-saving stoves
  • Capital receipt:

    • Receiving government grants
    • Selling old packaging crates
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