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Income statement and Balance sheet statement

Which items belong in income statement and do not belong in balance sheet statement
Asked by: Interview Candidate | Asked on: Nov 7th, 2007
Showing Answers 1 - 4 of 4 Answers

All the expenses, incomes and COGS are in the income statement.

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Rekha yadav

Answered On : Dec 18th, 2007

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Income Statement or                                                         Balance Sheet statementProfit & Loss statemet                                      Debit                                                                 It records all Assets,  Liabilties, Capital1. All Expenses                                                   2. Office Expenses3. Administrative Expenses4. Selling & Distribution ExpensesCreditAll income & gainsSalesCommission receivedRent received etc.

  
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Dear Rekha...I want to correct something if you do not mind,About the items which you mentio it in the income statement, It does not Include capital.Capital is included in the balance sheet.

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bart simpson

Answered On : Jul 15th, 2008

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examples of a income statement and balance sheet

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