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Examples of Income?

Q: Can someone please give me some examples of income?

See answers further below...

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Comments for Examples of Income?

Examples of Income
by: Anonymous

Dividend income
Commission income

Income Examples
by: Roshan

Sales

Rent received

Interest from bank

Cash received from debtors

Etc...

Hi Roshan and thanks for your answers here.

Actually, everything above is correct as examples of income except for one item: "cash received from debtors."

This item is not actual income but rather just a cash receipt (not the same thing). It is just money being paid by people that owe you (called "debtors").

The income relating to these debts would have been recorded separately - usually in the form of sales or services rendered.

See the lesson on accrued income for a full explanation of the difference between income itself and the cash received as a result of making some income.

Best,
Michael Celender
Founder of Accounting Basics for Students

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