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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).
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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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