Receipt example sentences

Receipts from the sale of an old asset appear in the Receipts and Payments Account of the year in which it is sold.Receipts from the sale of an old asset appear in the Receipts and Payments Account of the year in which it is sold.However, grants such as building grant are treated as capital receipt and transferred to the building fund account.The Receipt and Payment Account has an opening balance while the Income and Expenditure Account does not.After receipt of the freight, the shipping company issues a bill of lading which serves as an evidence that the shipping company has accepted the goods for carrying to the designated destination.Take all the fixed assets (not sold/discarded/or destroyed during the year) with additions (from the Receipts and Payments account) after charging depreciation (as per Income and Expenditure account) and show them on the assets side.Like a bill of lading, an airway bill is a document wherein an airline/ shipping company gives its official receipt of the goods on board its aircraft and at the same time gives an undertaking to carry them to the port of destination.It may be noted that Receipt and Payment Account shows the total amount of subscription actually received during the year while the amount shown in Income and Expenditure Account is confined to the figureure related to the current period only irrespective of the fact whether it has been received or not.The balance of payments is said to be in surplus (deficit) if autonomous receipts are greater (less) than autonomous payments.Receipt of cash from a non-cash item is termed as cash inflow while cash payment in respect of such items as cash outflow.It is prepared at the end of the accounting year on the basis of cash receipts and cash payments recorded in the cash book.Assessing importer's creditworthiness and securing a guarantee for payments: After receipt of the indent, the exporter makes necessary enquiry about the creditworthiness of the importer.With the exception of the opening and closing balances, the total amount of each receipt and payment is shown in this account.For example, the Receipt and Payment Account shows a payment for stationery amounting to Rs.To ascertain any missing item of receipt or payment, we may prepare a cash book summary showing all receipts and payments during the year and the balancing figureure is taken as the amount of missing item.