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Where do wages payable go on a statement of cash flows?
Wages payable goes on the "cash flows from operating activities" Either as an add or deduct to net income (when using the indirect method)
Does bank expense goes at income statement?
No, bank expenses do not typically go on the income statement. Bank expenses are usually recorded on the bank's own financial statements as part of their operating expenses. The income statement of a bank would typically include items such as interest income, loan loss provisions, and non-interest income.
Where does 'wages payable' go on the income statement?
Wages Payable goes into balance sheet under liability and wages expenses shows under income statement.Wages ExpensesWages PayableIncome StatementWages ExpansesNow in these entries wages payable remains still to be closed so it goes to balance sheet until payment.When payment settledWages PayableCash/Bank/Goods etc
What goes on income statement and what goes on balance sheet?
expenditures and revenue go to income statement while assets, liabilities and capital go to the balance sheet.
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.
Sale of fixed assets go on the income statement?
No profit or loss from sale of fixed asset goes into income statement while the cash proceeds goes to cash book.
Does the amortized amount of prepaid expense goes on income statement?
YES
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.
When using the indirect method how is the decrease in accounts payable shown on the statement of cash flows?
Decrease in accounts payable is shown as a decrease in cash under cash flows from operating activities because cash goes out when we pay the accounts payable.
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
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.
