What accounts would you see on a Balance Sheet and/or Income Statement, if a company had inventory?
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What accounts would you see on a
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- How do I find sales on account from a income statement or balance sheet1. If a company purchases inventory on account, what type of accounts are affected? (i.e., assets. liabilities, revenues. expenses, equity ? Explain Briefly.How can we prepare financial statements for a company using periodic inventory system?
- What accounts can appear on the Income Statement?accounting When a company makes a sale on credit, what does the account receivable represent on its balance sheet?How to calculate the account receivable turnover ratio in a balance Sheet and income statement (explain it with the items on the income statement and balance Sheet eg.inventory, current receivable, current liability..and so on.
