Ok, so I am taking a distance learning course on accounting and I have confused myself totally. I am just not sure what information is included on what sheets. Can anyone tell me what belongs on the income statement( I know Revenue and Expenses, but which expenses) ? unadjusted trial balance? adjusted trial balance? I'm just so confused. HELP.
2007-12-11 08:05:16 · 2 answers · asked by Ezara M 1 in Business & Finance ➔ Other - Business & Finance
I understand that, but its just trying to determine certain items. Is capital stock part of the revenue for example?
2007-12-11 09:43:30 · update #1
These sites should clear up much of your doubts.
2007-12-11 15:18:02 · answer #1 · answered by Sandy 7 · 0⤊ 0⤋
You have 4 categories of accounts, Asset, Liability, revenue and expenses. I hope you know the difference. All expenses go on the income statement, as do all revenues. The difference between an adjusted and unadjusted trail balance whether or not you have adjusted it for year end entries, like accruing tax!
2007-12-11 16:15:17 · answer #2 · answered by Emily E 6 · 0⤊ 0⤋