PDA

View Full Version : Accounting questions answered


grammyqbaby
Sep 29, 2012, 04:30 PM
I am trying to do an income statement: I have only one source of revenue, I also have several expenses but I cannot make them balance on a worksheet that has unadjusted trial balance, adjustments, adjusted trial balance, income statement and balance sheet and statement of owner's equity. The amounts are as follows:
Revenue $25,659 I have the following expense accounts. Depreciation expense - office equipment, depreciation expense - computer expense, wage expense, Rent expense, insurance expense,computer supply expense, advertising expense mileage expense, miscellaneous expense computer repair expense. I do not know which expenses to use for the income statement, what do I use?

paraclete
Sep 29, 2012, 05:02 PM
Expenses by their nature belong in the income statement offsetting revenue