Company income statement
gillwilson
Registered Posts: 41 Regular contributor ⭐
Hi
I am just trying to do a company income statement from a trial balance and have deveploped brain freeze (it has been a long day).
I am stumped as to where to put discounts allowed and received and carrriage inwards.
Can anyone help
Thanks in advance
Gill:mad2:
I am just trying to do a company income statement from a trial balance and have deveploped brain freeze (it has been a long day).
I am stumped as to where to put discounts allowed and received and carrriage inwards.
Can anyone help
Thanks in advance
Gill:mad2:
0
Comments
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I think I get it now.
What was confusing me was I was asked to produce an internal income statement including these items. So I figure it is exactly the same as a p & l. The thing confusing me was where do these items go on a published income statement. (within notes but which sections)
Am I getting this completely wrong - new to DFS, thought it would be easy - an extension of FRA????
Gill:001_wub:0 -
An income statement is the profit and loss account, it's just the international term whereas we've been used to UK standards0
