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Amortization is not entered separately but just shown as a deduction from the respective asset(patent) in balance sheet. However it is shown separately in P&L A/c. Its treatment is similar to that of depreciation.
Wiki User
∙ 12y ago
Wiki User
∙ 9y agoNo patent is also asset for business that's why like all other assets of business patent is also part of balance sheet and not of income statement.
Wiki User
∙ 10y agoYes patents are intangible assets and listed as an assets in balance sheet.
Wiki User
∙ 11y agoYes....It is an Intangible Asset....
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Did you pay your taxes this year is it a statement of cash flow or a income statement?
taxes payment is part of cash flow statement and not part of income statement.
Where does interest go on balance sheet?
Interest is part of income statement and shown in income statement and not part of balance sheet.
Does retaining earnings go on a Multiple-Step income statement?
Retained earnings is not part of income statement rather it is part of statement of owners equity so no question for including in single or multi step income statement.
Is revenue part of an income statement?
Yes revenues and expenses are part of income statement and difference between revenue and expenses is called net income or loss.
How abnormal loss in income statement?
abnormal loss is part of income statement and shown under other losses section or abnormal losses section of income statement.
Where does travel go on income statement?
Travel expenses are expenses as all other normal business expenses and as all other business expenses are part of income statement traveling expenses are also part of income statement.
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.
Does mortgage payable post to the income statement or balance sheet?
Mortgage payable is liability so it is part of balance sheet and not part of income statement.
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.
Where does sales go on a cash flow statement?
sales is not part of cash flow statement and sales is part of income statement.
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 retained earnings go on the income statement?
Retained earning is that part of profit which is not distributed to share holders so it is not part of income statement rather it is part of balance sheet.
