Selling and administration expenses are found under income statement after gross profit section and for the calculation of net profit
Contribution income statement highlights the variable expenses as well fixed expenses incurred by company for selling goods or services.
Yes, salaries are administration or selling expenses that's why it is shown under income statement of company.
after gross profit
It is a selling expense to be accounted for on the Income Statement under Selling Expenses.
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.
Income statement in financial reporting is different in this sense that in that income statement all expenses and incomes are shown as incomes and expenses and there is no classification of fixed expenses or variable expense while in contribution margin income statement expenses are shown in this way that separate the fixed expenses from variable portion of expenses.
Yes office supplies are expenses and it is part of income statement as all expenses are shown in income statement.
All expenses comes in income statements same as sales promotion expenses are also shown in income statement.
Telephone expenses are part of administration expenses which shown under income statement so thatâ€™s why telephone expenses also goes to income statement.
When actual benefits are taken by business at that time prepaid expenses are converted to expenses and at that time prepaid expenses are shown as expenses in income statement.
Income less Expenses