Home Income Cash System is essentially a scam. At the very least it uses deceptive practices to lure desperate or greedy people into signing up with their credit card.
Anything called "home income cash system" might as well call itself "con artist scam system", so I'm not sure why you'd want to.
Cash is not any income or cash in accrual based accounting system so it is not part of income statement rather it is an asset for business and shown under asset side in current asset portion.
Income Statement is a financial statement which shows all the income and expenses of company, while cash statement shows the receipts and payments of company. In cash based accounting system cash statement is also work as a income statement as everything is dealt on cash bases but in accrual accounting tracking of receipts and payments and income and expense is a separate tasks.
19. What effect will the declaration and distribution of a stock dividend have on net income and cash flows? (Points : 2)No effect on net income or cash flowsNo effect on net income, decrease cash flowsDecrease net income, decrease cash flowsIncrease net income, no effect on cash flows
[Debit] Cash / bank [Credit] Fee income
Bank over draft is not part of income statement in accrual based accounting system as it is the cash inflow not any income or expense.
Cash does not appear on the income statement. The income statement shows a company's revenues and expenses over a specific period, while cash flow is shown in the statement of cash flows.
Stocks are not cash or income, they are an asset. Once they are sold, the value is "realized" in terms of income.
Cash dividend paid has nothing to deal with net income as net income is calculated first and after that it is distributed. If cash dividend is received then it is included in net income calculations and increases the net income.
Cash does not appear on an income statement. The income statement shows a company's revenues and expenses over a specific period of time, while cash flow is shown on the statement of cash flows.
cash is not net income,it is part of wealth and can be used further in earning profit.
Net income included the non cash items as well while in net cash from operations only cash items are included and net income is adjusted for non cash items.