Receipt example sentences

In fact, the closing balance in this account (difference between the total amount of receipts and payments) which is usually a debit balance reflects cash in hand and cash at bank unless there is a bank overdraft.For example, the transaction for the purchase of materials may be supported by the cash receipt for the money paid, if the same is purchased on cash or copy of invoice and delivery challan, if the same is purchased on credit.Show the total amounts of all receipts on its debit side irrespective of their nature (whether capital or revenue) and whether they pertain to past, current and future periods.Non-debt creating capital receipts are those receipts which are not borrowings and, therefore, do not give rise to debt.Tax revenues, an important component of revenue receipts, comprise of direct taxes – which fall directly on individuals (personal income tax) and firms (corporation tax), and indirect taxes like excise taxes (duties levied on goods produced within the country), customs duties (taxes imposed on goods imported into and exported out of India) and service tax.Such amount is treated as capital receipt and credited directly to the capital/general fund.He then intends to store the rest of the potatoes in a cold storage and apply for a fresh loan from the bank against the cold storage receipt.Transfer payments are receipts which the residents of a country receive 'for free', without having to make any present or future payments in return.They used up 4 5 per cent of revenue receipts in 2004-0 Defence expenditure, the second largest component of non-plan expenditure, is committed expenditure in the sense that given the national security concerns, there exists little scope for drastic reduction.For example, subscriptions received from the members on different dates which appear on the debit side of the cash book, shall be shown on the receipts side of the Receipt and Payment Account as one item with its total amount.The budget is not merely a statement of receipts and expenditures.Companies — mostly small and medium-sized — are rushing to the overseas market to raise funds through Global Depository Receipts (GDRs).It is a document prepared and signed by the master of the ship acknowledging the receipt of goods on board.Exclude the capital receipts and capital payments as these are to be shown in the Balance Sheet.Difference between the Receipt and Payment Account and the Income and Expenditure Account: Many differences exist between the Receipt and Payment Account and the Income and Expenditure Account which is evident from the nature and purpose of two statements.