Whats On The Income Statement

How do you analyze an income statement?

  • Check all the math.
  • Find the bottom line.
  • Look at the sources of income.
  • Look at the expense categories.
  • Now look at the amounts: What are the biggest expenses?
  • Compare year-over-year numbers.
  • What is income and its example?

    The definition of income is the amount of money received by a person, group or company during a certain period of time. An example of an income is a $70,000 a year salary. noun.

    Are salaries assets or liabilities?

    What are Salaries Payable? Salaries payable is a liability account that contains the amounts of any salaries owed to employees, which have not yet been paid to them.

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