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It won't.
Equipment will be recorded in the Statement of Financial Position (Balance Sheet) as an asset.
with regards to the income statement the only entries relating to equipment would be deprecation expense, impairment expense and perhaps revaluation gain (although that would probably go into the Statement of Other Comprehensive Income- depending on policies)
Wiki User
∙ 12y ago
Wiki User
∙ 9y agoOffice equipment is part of assets of company and like all other assets it is also shown in balance sheet assets side.
Wiki User
∙ 9y agoEquipment is assets for business and like all other assets which are part of balance sheet it also comes in balance sheet.
Wiki User
∙ 9y agoEquipment is an asset of business and like all other business assets which shown in balance sheet under asset side equipment is also shown under asset side in balance sheet.
Wiki User
∙ 9y agoYes office supplies are expenses and it is part of income statement as all expenses are shown in income statement.
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Does equipemnt go on the income statement?
No, the income statement is for revenue and expenses only. Equipment will go on your balance sheet with your assets.
Does fees earned go on an income statement?
income statement
Does work in progress go on an income statement?
work in progress will not go on in income statement
What financial statement does transportation in go on?
INcome Statement
Where does sales discount go on an income statement?
does discount allowed and discount received go into the income statement or balance sheet?
Does investment revenue go on balance sheet or income statement?
consulting revenue will go to income statement in case if the firms main business is consultancy then sales otherwise will go under other income.
Does dues and subscriptions go on a balance sheet or income statement?
Income Statement under operating expenses.
Does interest revenue go on income statement?
Yes all revenues are part of income statement and interest revenue also that’s why it is shown in income statement as other income.
Do purchases go on an income statement?
No, purchases do not go on an income statement. The income statement only includes revenues and expenses directly related to the operation of the business. Purchases are recorded on the balance sheet as an increase in inventory or as an expense when the inventory is sold.
Does telephone go on the income statement?
No, telephone expenses do not go on the income statement. Telephone expenses would be recorded as an operating expense on the income statement under the category of "Communication expenses" or similar designation.
Where does interest go on balance sheet?
Interest is part of income statement and shown in income statement and not part of balance sheet.
Is equipment rental an expense?
Yes if equipment is leased on rent then rental payment is expense through income statement of that specific fiscal year.
