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In a statement of cash flow a net income is a credit, which should always be the same amout of cash in your balance sheet. (nice check)
Answer:No. The income statement shows revenues and expenses. Bills payable is a liability (the company has an obligation to pay), and is included on the credit (right) side of the balance sheet.
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Yes depreciation is included in contribution income statement as depreciation is part of fixed cost of company.
Credit affects your income statement primarily through the recognition of revenue and expenses. When sales are made on credit, revenue is recorded even if cash hasn’t yet been received, impacting net income positively. Conversely, if credit leads to bad debts or increased interest expenses, it can negatively affect net income. Additionally, interest income or expenses related to credit can also influence the overall profitability shown on the income statement.
In a statement of cash flow a net income is a credit, which should always be the same amout of cash in your balance sheet. (nice check)
Answer:No. The income statement shows revenues and expenses. Bills payable is a liability (the company has an obligation to pay), and is included on the credit (right) side of the balance sheet.
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Yes depreciation is included in contribution income statement as depreciation is part of fixed cost of company.
debit column of the income statement and the credit column of the balance sheet.
what are other name for credit purchase
Credit card fee will come under Opeating exp in incotme statement
Debit in your Income statement credit in your balance sheet.
That would indicate that the company has made a loss.
By definition Accounts Payable is a liability and belongs on a Balance Sheet. Only income and expenses are included in an Income Statement.
Accounts receivable is not reflected in the income statement but the balance sheet. Sales, both cash and credit is.
a credit card discount would be a credit, not an expense.