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under the head of personal account..
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Does equipemnt go on the income statement?
No, the income statement is for revenue and expenses only. Equipment will go on your balance sheet with your assets.
Where does equipment go on the income statement?
It won't. Equipment will be recorded in the Statement of Financial Position (Balance Sheet) as an asset. with regards to the income statement the only entries relating to equipment would be deprecation expense, impairment expense and perhaps revaluation gain (although that would probably go into the Statement of Other Comprehensive Income- depending on policies)
Where do fix assets go on a balance sheet?
they fall in the first column of a balance sheet
Where do fixed assets go on balance sheet?
they fall in the first column of a balance sheet
Does a liability account go on a balance sheet?
Liabilities are included on the credit side of the balance sheet.
Where does stationary go on a balance sheet in business studies?
Stationery, as an accounting item, does not appear on a business Balance Sheet. The Balance Sheet is reserved for assets and liabilities. The Income Statement reflects income and expenses and because Stationery is an expense item it will appear on the Income Statement and not the Balance Sheet.
Do expenses go on a balance sheet?
no
Do drawings go on a balance sheet?
yes
Where does interest go on balance sheet?
Interest is part of income statement and shown in income statement and not part of balance sheet.
Does accounts receivable go on a balance sheet as liabilities and equity?
Accounts receivable would appear as an asset (+) on a balance sheet.
Where does overdraft go to balance sheet or profit and loss account?
Bank overdraft is shown in balance sheet either as a negative amount of bank in asset side or at liability side of balance sheet.
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.
