0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Income statement of manufacturing organization?
Income statement of manufacturing organization is same as for trading company with little difference in manufacturing company there is separate manufacturing account is also prepared.
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.
How do debtors affect the income statement?
iincreases the net profit
How will you entry income from subsidiary in income statement?
When there is a parent child relation available then consolidated income statement is prepared in which expenses and income of parent and subsidiary are shown in one single financial statement due to which net profit or loss for whole organization is shown.
What account does not affect the balance sheet or income statement?
One not associated with the business.
Income statement of manufacturing organization?
Income statement of manufacturing organization is same as for trading company with little difference in manufacturing company there is separate manufacturing account is also prepared.
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.
How do debtors affect the income statement?
iincreases the net profit
What is income expenditure?
A statement that records the income and expenditure of an organization such as a charity,whose main purpose is not the generation of profit.
How will you entry income from subsidiary in income statement?
When there is a parent child relation available then consolidated income statement is prepared in which expenses and income of parent and subsidiary are shown in one single financial statement due to which net profit or loss for whole organization is shown.
What account does not affect the balance sheet or income statement?
One not associated with the business.
Do adjusting journal entry affect the income statement or balance sheet?
Adjusting entries affect at least one income statementand one balance sheet
What affect Adjusting entries?
always affectsa balance sheet and an income statement account
What does adjusting entries affect?
always affectsa balance sheet and an income statement account
How credit card fees affect the Income statement?
Credit card fee will come under Opeating exp in incotme statement
How do you do Income statement?
Comparative income statement is same as normal income statement with little addition of that income statement as well from which comparison is required.
Transactions that affect inventories on hand have an effect on both the balance sheet and the income statement?
Yes.
