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expenditures and revenue go to income statement while assets, liabilities and capital go to the balance sheet.
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∙ 12y ago
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Does unearned revenue go in the income statement?
No, it goes on the balance sheet as a liability.
How do you account for receivables on the income statement?
Receivables are not part of income statement rather these goes to balance sheet as these are future activities.
Why the statement of cash flows provides useful information that goes beyond income statement and balance sheet data?
statement of cash flows provides useful information that goes beyond income statement and balance sheet data because provides information to security analysts and stockholders
Where does accounts receivable go balance sheet or income statement?
Accounts receivables are on the balance sheet. They are an asset of the firm, that is they represent a future economic benefit. The income statement holds the revenues and expenses of the business.It goes to the Balance sheet (Debtors) under Current Assets. What goes into income statement is Sales (both cash and credit). DR Debtors CR Sales. Debtor goes to B.S and Sales goes to P&L
Do accounts receivable go on an income statement?
Nope. It goes to the Balance sheet (Debtors) under Current Assets. What goes into income statement is Sales (both cash and credit). DR Debtors CR Sales. Debtor goes to B.S and Sales goes to P&L.
Does unearned revenue go in the income statement?
No, it goes on the balance sheet as a liability.
How do you account for receivables on the income statement?
Receivables are not part of income statement rather these goes to balance sheet as these are future activities.
Does research and development go on a income statement or a balance sheet?
R&D goes on the income statement, generally as an operating expense in the current year. You can no longer capitalize (balance sheet) R&D.
Does equipemnt go on an income statement?
No its goes on the balance sheet as a non current asset
Why the statement of cash flows provides useful information that goes beyond income statement and balance sheet data?
statement of cash flows provides useful information that goes beyond income statement and balance sheet data because provides information to security analysts and stockholders
Where does tax paid goes in the balance sheet?
Tax paid is not part of balance sheet or income statement rather it is part of cash book.
Where does accounts receivable go balance sheet or income statement?
Accounts receivables are on the balance sheet. They are an asset of the firm, that is they represent a future economic benefit. The income statement holds the revenues and expenses of the business.It goes to the Balance sheet (Debtors) under Current Assets. What goes into income statement is Sales (both cash and credit). DR Debtors CR Sales. Debtor goes to B.S and Sales goes to P&L
Does loan go under income statement as an expense?
No, it is a liability and goes on the right side of a balance sheet.
Does accumulated amortization goes in income statement?
accumulated amortization is part of balance sheet same as accumulated depreciation and both shown in balance sheet liability side.
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.
Do accounts receivable go on an income statement?
Nope. It goes to the Balance sheet (Debtors) under Current Assets. What goes into income statement is Sales (both cash and credit). DR Debtors CR Sales. Debtor goes to B.S and Sales goes to P&L.
Where does interest payable goes on the income statement?
Interest payable is that amount which is payable at future date and not paid in current year or period, income statement only shows expenses of current period that's why it is not shown in income statement rather it is shown under current liability of balance sheet.
