Examples of revenue expenditure can be repair and maintenance of the asset, property rent, freight, selling costs, salary, etc. A revenue expenditure is a cost that will be an expense in the accounting period when the expenditure takes place. Revenue expenditures are usually less expensive than capital expenditures, small enough to be expensed against a
Read MoreThe income statement will also account for other expenses, such as selling, general and administrative expenses, depreciation, interest, and income taxes. The difference between these inflows and outflows is the company’s net income for the reporting period. In this instance, one asset account (cash) is increased by $200, while another asset account (accounts receivable) is
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Read MoreYou can draw money from the business on top of your owner’s salary, but this is referred to as a shareholder distribution in an S corporation. An owner’s salary can be incorporated into the overhead of the business while also allowing the owner to have taxes withheld as part of their employee benefits. Payments for
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