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-   -   Classifying items on balance and income sheet (https://www.askmehelpdesk.com/showthread.php?t=327288)

  • Mar 10, 2009, 03:44 AM
    rebecca2003
    Classifying items on balance and income sheet
    Could someone help me classifying these items into categories for Balance and Income sheet and perhaps than I will be able to solve the problem I mentioned in my question posted few days ago.

    CAPITAL - it goes under Equity on Balance sheet. How and do I register it on Income sheet?

    Retained earnings-go under Equity on Balance sheet. How and do I register it on Income sheet?

    Cash at bank-is current asset on Balance sheet. How and do I register it on Income sheet?

    Accumulated depreciation-goes under non-current asset on Balance sheet (as contra asset or liability). How and do I register it on Income sheet?

    Depreciation expence - goes under general and admin expences on Income sheet. How do I register it on Balance sheet?

    Thanks a million in advance for all the help. :)
  • Mar 10, 2009, 03:55 AM
    ROLCAM

    CAPITAL - it goes under Equity on Balance sheet. How and do I register it on Income sheet?
    You do not!

    Retained earnings-go under Equity on Balance sheet. How and do I register it on Income sheet?
    You do not!

    Cash at bank-is current asset on Balance sheet. How and do I register it on Income sheet?
    You do not!

    Accumulated depreciation-goes under non-current asset on Balance sheet (as contra asset or liability). How and do I register it on Income sheet?
    You do not!

    Depreciation expence - goes under general and admin expences on Income sheet. How do I register it on Balance sheet?
    You do not!
  • Mar 10, 2009, 04:45 AM
    rebecca2003
    Rolcam,

    Thank you. As evident, I am not an expert nor am I studying accounting and I couldn't find the answers anywhere. I had it in my head that all the items need to be on balance AND income sheet.

    Thank you so much...

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