Published on August 6, 2014
Tangible and Intangible Assets: Tangible assets are those assets which can be seen or touched like building, plant, Furniture etc. Intangible assets are those assets which do not have Physical existence and which cannot be seen or felt like Patents, Goodwill etc. Capital Receipts: (i)Amount received from the sale of fixed assets or investments (ii)Capital contributed by proprietors, partners or money obtained from issue of shares and debentures in case of company. (iii)Amount received by way of loans. Revenue Receipts: (i)Money obtained form sale of goods (ii)Commission and fees received for services rendered. (iii)Interest and dividend received on investments.