0
No building is asset for business and like all other assets which shows in balance sheet building also part of balance sheet and not income statement.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoBuilding is an asset for business and that;s why it is shown in balance sheet as all assets are part of balance sheet.
Add your answer:
Earn +20 pts
Where does the purchase cost of the businesses building go on an Income Statement?
Purchase cost of business is not come under income statement rather it is part of balance sheet and shown there as long term assets.
Does Sales promotion expenses come in income statement?
All expenses comes in income statements same as sales promotion expenses are also shown in income statement.
Are the proceeds from the sale of a building included in net income?
No proceeds from sale of building is part of cash flow statement while profit or loss on sales of building is part of net income in accrual base accounting while cash base accounting it is part of net income or loss.
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.
Where does the fund for payroll come from Does it come from net income/retained earnings?
The difference between revenue and retained earnings is that revenue is the ... they are derived from net income on the income statement and contribute to ..
How do you do Income statement?
Comparative income statement is same as normal income statement with little addition of that income statement as well from which comparison is required.
How do you prepare comparative income statement?
Comparative income statement is same as normal income statement with little addition of that income statement as well from which comparison is required.
What are the two categories of the income statement?
Following are two catagories of income statement: 1- Single Step Income statement 2- Multy-step income statement
Is income statement same as financial statement?
no. income statement is a only a statement in financial statements.
What is a projected income statement?
projected income statement is the estimated income statement to estimate the future business position.
How credit card fees affect the Income statement?
Credit card fee will come under Opeating exp in incotme statement
Does fees earned go on an income statement?
income statement
