What is an income statement and a balance sheet and what information is on these documents?
- Anonymous10 years agoFavorite Answer
Income statement also referred as profit and loss statement (P&L), statement of financial performance, earnings statement, operating statement or statement of operations
- INCOME STATEMENT BOND LLC -
For the year ended DECEMBER 31 2007
GROSS PROFIT (including rental income) 496,397
BANK & CREDIT CARD FEES 144
LEGAL & PROFESSIONAL SERVICES 1,575
PRINTING, POSTAGE & STATIONERY 320
RENTAL MORTGAGES AND FEES 74,400
TOTAL EXPENSES (195,512)
NET INCOME 300,885
A financial statement that summarizes a company's assets, liabilities and shareholders' equity at a specific point in time. These three balance sheet segments give investors an idea as to what the company owns and owes, as well as the amount invested by the shareholders.
The balance sheet must follow the following formula:
Assets = Liabilities + Shareholders' Equity
Sample Balance Sheet
Sample Balance Sheet
For the Month Ended __________.
Sample Business Plan, Capital
- 3 years ago
stability sheet shows surely 2 strains: a million. How plenty asset I even have,in a categorised order. 2. How plenty debt I would desire to be paid, in a categorised order. stability Sheet says many stuff: - have i won or lost - am i in wanting money - do the hobbies replace right into a snowball earnings fact (P&L) shows how the consequence of stability Sheet occured. with a view to appreciate the stability Sheet, you will desire to examine and understand the P&L. you will come across out which production group, which client group, which industry section which merchandising and marketing attitude is resulted interior the earnings or loss shown interior the stability Sheet. pay interest: Many criminal or perceptual purposes lead the numbers tutor a incorrect effect. Your inventories won't properly worth as much as you spot it interior the BS. Your type of sales, fee of sales, fixed costs etc. won't be ideal to envision the earnings/loss. finally, you will desire to examine the P&L comparing the annual Plans, Forecasts etc. intimately of your enterprise variety (Product group, client group, sales areas, etc. in needed dimensions.)