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Sample Balance Sheet and Income Statement

March 14, 2012 Vic 3 Comments

The following are sample balance sheet (statement of financial position), income statement, and statement of changes in owner’s equity for an individual or sole proprietorship business. These sample financial statements are actually the ones we have discussed and prepared in our … [Read more...]

Accounting accounting, balance sheet, business, Financial Statements, income statement

How to Prepare an Income Statement

March 13, 2012 Vic 1 Comment

sample heading of an income statement

If you own a business or providing professional services, you need to know if you are making profit or incurring loss. You need to take a look if your business is generating more revenues than your total expenses. This financial information is found on the income statement. The … [Read more...]

Accounting accounting tips, business, Financial Statements, guide, income, income statement

What are Financial Statements of a Business?

September 10, 2011 Vic 1 Comment

financial statements of a business

If you’re a business owner and you’re filing your annual income tax, you might be required to attach a financial statement to your income tax return. Likewise, if you are applying for a business loan in your local bank, you will also be required to submit your financial … [Read more...]

Accounting balance sheet, business, cash flow, financial accounting, Financial Statements, income statement

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