0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
How credit card fees affect the Income statement?
Credit card fee will come under Opeating exp in incotme statement
What are other names for credit purchases on an income statement?
what are other name for credit purchase
Should credit sales be included on the income statement?
Wat
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.
Is net income a debit or credit in the statement of cash flow?
In a statement of cash flow a net income is a credit, which should always be the same amout of cash in your balance sheet. (nice check)
How credit card fees affect the Income statement?
Credit card fee will come under Opeating exp in incotme 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.
What is carriage inwards and how does it affect the income statement?
The carriage inwards is an expense added to purchases under COGS. It is a credit entry in the icome statement, thus it reduces the gross profit
What are other names for credit purchases on an income statement?
what are other name for credit purchase
Should credit sales be included on the income statement?
Wat
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.
Is net income a debit or credit in the statement of cash flow?
In a statement of cash flow a net income is a credit, which should always be the same amout of cash in your balance sheet. (nice check)
What is true if the income statement debit column exceeds income statement credit column on a worksheet?
That would indicate that the company has made a loss.
Is accrued expenses a debit or credit balance?
Debit in your Income statement credit in your balance sheet.
Where doe accounts receivable go on income statement?
Accounts receivable is not reflected in the income statement but the balance sheet. Sales, both cash and credit is.
Are credit card discounts reported as operating expenses on an income statement?
a credit card discount would be a credit, not an expense.
How do debtors affect the income statement?
iincreases the net profit
