Income Statement Example Grade 12
![Difference Between An Income Statement And A Balance Sheet](https://i.pinimg.com/originals/84/b9/b9/84b9b93ad587e9bf6ad4aa03c61722dc.png)
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 example grade 12. In this lesson we introduce financial statements as well as discuss users of financial statements and consider the income statement. Accounting grade 12 companies final accounts financial statements and notes. Examples of service businesses are medical accounting or legal practices or a business that provides services such as plumbing cleaning consulting design etc. Revision video accounting grade 12 companies final accounts financial statements and notes.
3 2 1 income statement statement of comprehensive income 28 3 2 2 notes to the balance sheet statement of financial position for. Telematics presentation in collaboration with the university of stellenbosch. Explain two examples of. Accounting 2 dbe november 2018.
In this lesson we focus on the format of the income statement as well as look at income statement year end adjustments.