Claire S Income And Expense Statement Quizlet

2 2 4 e3 income and expense statement for.

Claire s income and expense statement quizlet. Learn vocabulary terms and more with flashcards games and other study tools. The balance sheet used is the classified balance sheet. Start studying income and expense statement. According to rory s paycheck last week he earned 800 last month but before taxes and other deductions were taken out he earned 1 050.

She is told that the monthly payment for the loan would be 200. It shows your revenue minus your expenses and losses. She wants to make sure that she can afford this monthly loan payment so she is creating an income and expense statement to summarize her financial transactions for a month. Page 21 2 2 4 a3 claire s income and expense statement name date class claire is applying for a loan to purchase a pre owned car.

The income statement format above is a basic one what is known as a single step income statement meaning just one category of income and one category of expenses and prepared specifically for a service business. Income statement statement of retained earnings balance sheet and statement of cash flows. She is told that the monthly payment for the loan would be 200. Expense gross income income income and expense statement insurance mortgage net gain net income net loss savings.

She is paid 4 000 00 per month before deductions. August amount income earned income wages. Her august paycheck stub indicated that she pays 800 00 in federal income taxes 230 64 in social security. What is an income statement.

Which amount should be recorded as income in his income and expense statement. Claire s income and expense statement total points earned name total points possible date percentage class page 21 2 2 4 a3 claire is applying for a loan to purchase a pre owned car. View homework help claire income and expense statement from online 5 at pender high school. The income statement for a merchandiser is expanded to include groupings and subheadings necessary to make it easier for investors to read and understand.

Information to help claire create an income and expense statement for the month. Claire was lucky to land her dream job several years ago. Play this game to review business. She wants to make sure that she can afford this monthly loan payment so she is creating an.

An income statement is a financial statement that shows you how profitable your business was over a given reporting period.