why newspaper expense do not come in expenditure side of income and expenditure account
Dear Student,
All the revenue items relating to the current to the current period are shown in Income and Expenditure account, the expenses are shown on expenditure side and income on income side. So, Sale of newspaper is to be shown on credit side as income whereas, newspaper expense should be shown in expenditure side of Income and expenditure.
Regards
All the revenue items relating to the current to the current period are shown in Income and Expenditure account, the expenses are shown on expenditure side and income on income side. So, Sale of newspaper is to be shown on credit side as income whereas, newspaper expense should be shown in expenditure side of Income and expenditure.
Regards