Income statement and Balance sheet statement

Which items belong in income statement and do not belong in balance sheet statement

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Rekha yadav

  • Dec 18th, 2007
 

Income Statement or                                                         Balance Sheet statement
Profit & Loss statemet                                    
 
Debit
                                                                 It records all Assets,  Liabilties, Capital
1. All Expenses                                                  
2. Office Expenses
3. Administrative Expenses
4. Selling & Distribution Expenses
Credit
All income & gains
Sales
Commission received
Rent received etc.

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