Explain the difference between capital and revenue items by stating in which final statement they appear? Plz?

Answer 1

All assets and liabilities go to the balance sheet. All income and expense items go to the income statement. Click on the link for a lecture on income statement and balance sheet.

Answer 2

Capital income or gain is the profit realized from the sale (disposal) of a capital asset, or from holding it during a period when its market value is increasing. Such gains usually attract capital gains tax. Revenue income generated by sales of goods or services.