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What else can I help you with?
Is audit prepaid expenses entry come in income statement?
Prepaid expenses are not part of income statements, in accrual accounting income and expenses are only shown in income statements when they are actually incurred.
Net income appears on what statements?
It appears at: Income statement Balance sheet
How would you describe an income statement?
Income statements show net income for a period of time (income minus expenses).
What is net recurring in income statements?
Law of effect
Can a person get a loan using bank statements as proof of income?
I have received mortgage loans based on my bank statements as proof of income since my sole source of income is Federal benefits for which no weekly statement is issued.
Are balance sheets ordinarily projected after income statements?
Balance sheets are ordinarily projected after income statements because the firm's growth in retained earnings, an outcome of projected income, is a required input for the balance sheet.
Which of these statements abut state income taxes is false?
All states have state income taxes.
Is income statement same as financial statement?
no. income statement is a only a statement in financial statements.
What the income statement and balance sheet jointly known as?
Financial Statements
What are the 3 financial statements?
Income StatementBalance SheetCash Flow Statement
What are the interrelationships that are important to understand when preparing financial statements?
The net income from the income statement is used in the retained earnings statement.
Why do income statements for internal purposes differ to published income statements?
The difference in operating income between the two methods is the difference in ending inventory values, which is the fixed overhead costs that have been capitalized as an asset ( inventory ) because overhead costs that have been capitalized as an asset.
