I need help with my accounting class… i cant seem to get down what is in a balance sheet, income statements?

as good as the opposite accounts, etc. I am pang bad as well as I unequivocally need to get my class up. I already attempted articulate to my prfessor.. does any one have any tips or can presumably assistance me? thanks

Tagged as: Accounting, balance, can't, CLASS, down, help..., Income, Need, Seem, sheet, statements

{ 2 comments… read them below or add one }

p_rutherford2003 July 13, 2010 at 3:09 am: Income statement is always income and expense, usually reflects the activity of the business for a given period.

Balance sheet is the balance of assets, liabilities, equity (net assets) and is a ’snapshot’ of what the company is worth at any given time.
Jonathan July 13, 2010 at 3:24 am: That’s a tough question to answer since it is so general. Any specific question you have in regards to it?

Essentially, a balance sheet will simply have everything that matches on the accounting equation (assets = liabilities + owner’s equity or retained earnings). So, it has the assets, liabilities, and OE.

The income statement will have all the revenues and expenses (profits and losses). It basically has all of the operating numbers for a business, since the revenues and expenses make up a business’ operations.

I NEED HELP WITH MY ACCOUNTING CLASS… I CANT SEEM TO GET DOWN WHAT IS IN A BALANCE SHEET, INCOME STATEMENTS?

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