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How to account for tenants in common investment income
When accounting for a tenants in common interest, how do I show the income that comes from the investment on the Income Statement but have that income flow to the investment asset account rather than to the Retained Earnings account?
I want the income to show up in my Income Statement, but I want the asset to be stated at the value of its net increase or decrease for the year on the Balance Sheet. When a draw is taken from the investment, I increase Cash and decrease the investment asset account. Thanks! |
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