is the profit in income statement same as cash at bank in balance sheet?

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is the profit in income statement same as cash at bank in balance sheet?

2007-12-21 22:00:55 · 2 answers · asked by Ana M 1 in Business & Finance ➔ Other - Business & Finance

2 answers

No. This article will explain why.

2007-12-22 02:16:48 · answer #1 · answered by Sandy 7 · 0⤊ 0⤋

no...profit is what is realized after cost of goods sold and expenses are taken into consideration.

The company could have much less cash in the bank than the profit they realized for the year...or vice versa.

2007-12-22 06:04:10 · answer #2 · answered by Lauren 5 · 1⤊ 0⤋