Love Doddle is a gifting enterprise of Ms. Dorati. The enterprise generates inflows by arranging gift hampers for the customer's loved ones. The inflows arises from the sale of gift hampers Rs 505000 and from bank interest, dividend receipt Rs4200. Ms. Dorati is confused on how to record these inflows. She would like to understand from you about the concepts Revenue from operation and other income, so that she can record the information so as to prepare the profit and loss statement of the enterprise. Define, share examples, and elaborate on your understanding towards the terms Revenue from Operation and Other Income

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business
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Love Doddle is a gifting enterprise of Ms. Dorati. The enterprise generates inflows by

arranging gift hampers for the customer's loved ones. The inflows arises from the sale of

gift hampers Rs 505000 and from bank interest, dividend receipt Rs4200. Ms. Dorati is

confused on how to record these inflows. She would like to understand from you about

the concepts Revenue from operation and other income, so that she can record the

information so as to prepare the profit and loss statement of the enterprise. Define, share

examples, and elaborate on your understanding towards the terms Revenue from

Operation and Other Income

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