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Interest revenue is shown in income statment as other income that interest may be earned from investments in other business or governament securities etc.
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∙ 10y ago
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Does interest payable go on a balance sheet?
Interest payable is the interest which is not yet paid and required payment to be made so it is the liability of the company and that's why it will show as a current liability under liability side of the balance sheet.
Is debenture interest paid shown in balance sheet?
if Debenture interest is paid already then it will only show in income statement while if debenture interest is payable in future then it will only comes balance sheet, while if part of interest paid and part of interest payable then portion of paid amount will be shown in income statement while remaining amount will be shown in balance sheet as liability
Does a revenue account normally have a debit balance?
No. A revenue account should always show a credit balance.
Suppose i buy one good for Rs.1000.00 now i want sell that goods Rs. 7000.00 my question is it comes under Balance sheet or Profit and loss account?
when you buy good for 1000 that good will be shown under balance sheet as an inventory and when u will sell that it will show as sales revenue of 7000 in income statement.
Why balance sheet prepared?
Balance sheet is prepared to show the overall performance of business from it's inception to till date.
Does interest payable go on a balance sheet?
Interest payable is the interest which is not yet paid and required payment to be made so it is the liability of the company and that's why it will show as a current liability under liability side of the balance sheet.
Is debenture interest paid shown in balance sheet?
if Debenture interest is paid already then it will only show in income statement while if debenture interest is payable in future then it will only comes balance sheet, while if part of interest paid and part of interest payable then portion of paid amount will be shown in income statement while remaining amount will be shown in balance sheet as liability
Where does interest paid on loan go in the balance sheet?
INTEREST ON LOAN NEVER GOES TO THE BALANCE SHEET AS IT IS A REVENUE EXPENDITURE. IT WILL SHOWN AS AN EXPENSE FOR THE FINANCIAL YEAR AND DEBITED IN PROFIT AND LOSS ACCOUNT BEFORE ARRIVING AT NET PROFIT. MOHAMMED ASIF MUSCAT Mohammed, You are an idiot. Yes it does as interest payable. How do you pay for it? Obviously with cash. It therefore flows through the balance sheet. What state are you from so I can have them take away your cpa license. Chances are you don't have one. Joe Bob Interest paid on a loan does not go directly on the balance sheet as correctly stated by Muscat and instead is seen as a line item on the profit and loss statement. Indirectly however, paid interest is a reduction of cash (cr entry) and owners' equity (dr entry) which obviously effects the balance sheet. Unpaid accrued interest can however be seen on the balance sheet as a short-term liability. Accrued interest in the case of a term note represents interest unpaid from the last note payment to the ending date of the balance sheet. For example, if the last note payment was on 12/20/y0, the balance sheet would show 11/31th of the interest associated with the 01/20/y1 note payment in accrued interest. So... be nice; both of your answers have a component that correctly answers the question. Regards, MJG
Is EB-IT shown in balance sheet?
EBIT is not show in balance sheet rather Earning after tax is shown in balance sheet.
Does a revenue account normally have a debit balance?
No. A revenue account should always show a credit balance.
Suppose i buy one good for Rs.1000.00 now i want sell that goods Rs. 7000.00 my question is it comes under Balance sheet or Profit and loss account?
when you buy good for 1000 that good will be shown under balance sheet as an inventory and when u will sell that it will show as sales revenue of 7000 in income statement.
Off balance sheet activities?
Off balance sheet activities are those activities which do not show any impact on balance sheet like operating lease in which company uses the assets but not shown in balance sheet.
Is deprecation included in a balance sheet?
Depreciation is not included in balance sheet it is income statement part and accumulated deprecation is use to show deduction from asset in balance sheet.
What does a personal balance sheet show you?
a personal balance sheet depicts your financial position or worth.Thus what you own and owe.
Why balance sheet prepared?
Balance sheet is prepared to show the overall performance of business from it's inception to till date.
Are fees earned showed on a balance sheet?
No Fees Earned is Income Statement item it dont show on Balance sheet
What is the difference between provisional balance sheet and estimated balance sheet?
Provisional balance sheets are used by companies to prepare for financial audits. An estimated balance sheet is used by companies to show projected growth for investors.
