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Which income statement account reports how much interest was incurred during the year?
Wiki User
∙ 12y ago
interest expense
Wiki User
∙ 12y ago
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What type of account is asset account?
An asset account is a "balance sheet" account. That is, when financial reports are created, the balances in asset accounts are reported on the balance sheet*, together with the balances in liability accounts and shareholders' equity accounts, and not on the income statement (which reports only revenues and expenses for the period of time ending on the balance sheet date.) *Another name for the balance sheet is the Statement of Financial Position.
What are the different accounting reports?
-statement of financial position, -statement of profit and loss and other comprehensive income, statement of cash flows, -statement of change in equity, -Notes to the account
What kind of items are posted in the Income statement?
An income statement reports a company's revenue over a period of time. The items posted on the statement are operating and non-operating items including net sales, cost of goods, depreciation, interest, and income taxes.
What is the best description of a statement that reports who what when and where?
literal
What is report statement?
i think it is something to do with the police when someone reports you.
Where does accounts receivable go on a multi step income statement?
Accounts receivables would be included in the balance sheet. The income statement reports revenues and expenses. Accounts receivables is an asset account and all the asset, liablities and equity accounts are reported on the balance sheet.
What are financial reports that summarize the financial condition and operations of a business?
Financial statements are financial reports which summarize the financial condition and operations of a business. Included in a financial statement are a balance sheet, income statement, and also a cash flow statement.
How many reports are needed to deactivate facebook account?
i think reporting an account has no effects at all
What are principle accounting reports involved in financial reporting in general terms what is the purpose of these reports?
The results of the accounting process are the 5 core financial sections: Balance sheet Income statement Statement of changes in equity Statement of cash flows Notes to the financial statements.
Where can one purchase textbooks on account reports?
One can find and purchase textbooks on account reports on several websites for an example Amazon or ebay, or in ones local textbook shop for an example.
How are financial statement titled?
Financial statements include reports such as: - balance sheet - income statement - statement of profit & loss and so on Different reports have different headings. There are two main types: (1) for reports which show only the correct figures for a PARTICULAR date eg. BALANCE SHEET (2) for reports which show movement of (eg.money) throughout the year eg. INCOME STATEMENT (and most other reports) Heading for type 1: Sheila's Shearing Supplies Balance Sheet as at 30th June 2012 Heading for type 2: Sheila's Shearing Supplies Income Statement for the period ended 30th June 2012 Hope this helps.
What is the financial statement that reports accounting data at a specific date?
balance sheet
