What financial statement uses net income (or net loss) taken directly from the income statement?

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Presentation transcript:

What financial statement uses net income (or net loss) taken directly from the income statement?

What financial statement shows total assets equals total liabilities plus total owner’s equity?

What financial statement takes total revenue minus total expenses?

What order to do you do the financial statements?

Examples of Asset

Examples of Liabilities

Examples of Owner’s Equity accounts

Normal Debit Balances

Normal Credit Balances

Accrued Expense