0
What is the difference of an income statement and a balance sheet?
Wiki User
∙ 10y ago
Income statement shows the activity of current or one fiscal year of business while balance sheet shows the overall financial condition of business from start of the business to till date.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
Are the income a balance sheet account?
Income is an income statement account and shown in income statement and not a balance sheet account.
What is the difference between income tax expense and income tax payable?
Income statement & balance sheet.
How income statement affect balancesheet?
Income statement and balance sheet are both related to each other as transactions effect income statement and balance sheet as well and net income or loss from income statement is also part of balance sheet.
Does mortgage payable post to the income statement or balance sheet?
Mortgage payable is liability so it is part of balance sheet and not part of income statement.
What goes on income statement and what goes on balance sheet?
expenditures and revenue go to income statement while assets, liabilities and capital go to the balance sheet.
Are the income a balance sheet account?
Income is an income statement account and shown in income statement and not a balance sheet account.
What is the difference between income tax expense and income tax payable?
Income statement & balance sheet.
How income statement affect balancesheet?
Income statement and balance sheet are both related to each other as transactions effect income statement and balance sheet as well and net income or loss from income statement is also part of balance sheet.
Does net income on balance sheet come from income statement?
Yes income in balance sheet is the same amount which is calculated in income statement if there is any difference then it may be due to distribution of net income between retained earnings and dividend.
Are accounts payable on the income statement and balance sheet?
yes accounts are payable on the income statement and balance sheet.
Is interest on fixed deposit located on income statement or balance sheet?
both.. balance sheet under liquid asset..income statement under inflow/income..
Where does interest go on balance sheet?
Interest is part of income statement and shown in income statement and not part of balance sheet.
Are exploration expenses located on a balance sheet or income statement?
balance sheet
Where does an escrow payable appear on a balance sheet or a income statement?
balance sheet
Does mortgage payable post to the income statement or balance sheet?
Mortgage payable is liability so it is part of balance sheet and not part of income statement.
Is net income recorded on the worksheet in the Income Statement Debit column and the Balance Sheet Credit column?
debit column of the income statement and the credit column of the balance sheet.
Is earnings per share found on income statement or balance sheet?
Earning per share information is shown in income statement and not shown in balance sheet of business.
