Concept explainers
(a)
Income Statement: Income Statement is prepared by all the companies by enumerating all the expenses and revenues in the statement to calculate the resulting difference of Net
Retained Earnings Statement: Retained Earnings Statement is the statement showing the balance of retained earnings left at the end of the period after including the net profit for the period and distributing the dividend to the stockholders.
Classified
Classification Heads
- Current Assets
- Long-Term Investments
- Property Plant and Equipment
- Intangible Assets
- Current Liabilities
- Long-Term Liabilities
- Stockholder’s Equity
To Prepare: Tabular analysis of transactions.
(b)
To Prepare: Income statement, retained earnings statement and balance sheet for September.
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FINANCIAL ACCOUNTING-STD.WILEY PLUS
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