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Is the freight out shown in the income statement under net of sales?
Wiki User
∙ 12y ago
Of course
Wiki User
∙ 12y ago
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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.
What section would sales returns and allowances be on the income statement?
Sales returns and allowances reduces the actual sales value that;s why shown as deduction from Sales Revenue in Income Statement
Is sales included in balance sheet?
sales are part of income statement and not shown in balance sheet.
Does sales return and allowances go on the statement of earnings?
--> another term for Statement of Earnings is Income Statement --> in income statement, you deduct the Sales Return & Allowances from the Gross Sales to come up with Net Sales --> in presentation purposes, usually it is only the Net Sales account that is shown
Where do gain of sale of land go on an income statement?
Loss on sale of land is added back to net income in operating activities and sale of land is shown under investing activity as a reduction in amount.
Where does sales commission payable go on the multiple step income statement?
Sales commission payable is not part of income statement and it is shown in balance sheet as current liability in liability side of balance sheet.
How do you show sales discount in financial statements?
Sales discount is shown under income statement as a deduction from sales because it reduces the actual sales figure.
Are the income a balance sheet account?
Income is an income statement account and shown in income statement and not a balance sheet account.
Is earnings per share found on income statement or balance sheet?
Earning per share information is shown in income statement and not shown in balance sheet of business.
Where is i reported in the financial statements?
Need more clarification: i = interest? (if expense: shown in income statement, under expenses. if revenue: shown in income statement, under revenues) i = investment? (is an asset, showin in the asset section of the balance sheet) i = income? ( shown in the income statement)
Consolidated income statement?
Consolidated income statement is that statement in which expenses and incomes of subsidiary as well as parents companies shown as a joint in one single income statement.
Where does disposal of motor vehicle go in an income statement?
Disposal of motor vehicle is not shown in income statement rather proceeds goes to balance sheet any loss or profit on disposal is shown in income statement only.
