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.
multi-step statement
The multi-step income statement is classified by function, and the single-step income statement is classified by behavior.
Multi-step income statement is that in which more than one subtraction is done to arrive at net income or loss as follows:Gross profit = revenues - cost of goods soldNet income = gross profit - expenses.
Retained earnings is not part of income statement rather it is part of statement of owners equity so no question for including in single or multi step income statement.
after gross profit
1. Single step income statement 2 – Multi-step income statement
Detail information of how cost of goods sold is calculated is provided in multi step income statement while it is not provided in single step statement.
multi-step statement
The multi-step income statement is classified by function, and the single-step income statement is classified by behavior.
Multi-step income statement is that in which more than one subtraction is done to arrive at net income or loss as follows:Gross profit = revenues - cost of goods soldNet income = gross profit - expenses.
Retained earnings is not part of income statement rather it is part of statement of owners equity so no question for including in single or multi step income statement.
after gross profit
Gross profit is usually the third item on a multi-step income statement:Net SalesLess: Cost of Goods SoldEquals Gross ProfitGross profit does not appear on a single step income staement.
The symbol for BlackRock Multi-Sector Income Trust in the NYSE is: BIT.
The symbol for Scudder Multi-Market Income Trust in the NYSE is: KMM.
BlackRock Multi-Sector Income Trust (BIT)had its IPO in 2013.
The symbol for Virtus Global Multi-Sector Income Fund in the NYSE is: VGI.