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Revenues are earnings from sales of products and net income is the difference between revenues and expenses.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoRevenues are earnings from sales of products and net income is the difference between revenues and expenses.
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By matching revenues and expenses in the same period in which they incur?
By matching revenues and expenses in the same period in which they incur, net income or loss will be properly reported on the income statement.
Net income the same as net earnings?
Earning is more in sense of sales revenue while net income is different in this sence that it is the difference between revenues or earnings from expenses.
What is the net income for a company with Cash 55000 Accounts receivable 70000 supplies 3000 accounts payable 4000 owners capital 114000 revenues 200000 and expenses 190000?
The net income for this company can be calculated by subtracting the total expenses from the total revenues. In this case, the net income would be 200,000 - 190,000 = 10,000.
To figure out net income do I subtract the taxes I paid?
Total Revenues - All Expenses = Net Income
Net income will result during a time period when?
revenues exceed expenses.
Is net revenues the same as net sales?
yes
What is net income?
Net income is your revenues minus your expenses. For example, if a store had $100,000 in sales, but their expenses for rent, employees, supplies, etc is $60,000 then they had a net income of $40,000.
What does net income equals?
revenues minus cost of goods sold.
What requires that expenses will be matched with revenues to determine net income?
Matching
What is net income assets minus liabilities or revenues minus expenses?
Net Income is revenue minus expenses. Assets minus liabilities is Net Worth.
When total revenues exceed total expenses what is the difference called?
Net income
What is targets net income?
Target Net income = (Target Operating income)-(Target Operating income x Tax rate) Target operating income = (Revenues-Variable costs)- Fixed Costs
