Register
Costs such as rent, mortgage, long term noted payable on the income statement are
202k views
2 votes
Costs such as rent, mortgage, long term noted payable on the income statement are

User Shehbaz Khan
by
3.1k points

1 Answer

6 votes

Answer:

Only the interest portion of a loan payment will appear on your income statement as an Interest Expense. The principal payment of your loan will not be included in your business' income statement

User BadChanneler
by
2.9k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

3.3m questions

4.3m answers

Other Questions

Stevenson Company purchased equipment for $250,000 on January 1, 2010. The estimated salvage value is $50,000, and the estimated useful life is 5 years. The straight-line method is used for depreciation.
In order to attract younger customers to the Lacoste brand of clothing, CEO Robert Siegel made all of the major decisions in product planning, distribution, and promotion. He asked for no input from his
The Yum and Yee food truck near the business school serves customers during lunch hour by taking orders and making fresh batches of stir-fry. Customers have only one choice during the lunch hour so that
At first Rohan thought it was a good idea to offer a car repair pick-up service at his auto repair shop, but then he realized that most customers called Tow-It-Now Inc. and it would be difficult to match
Robusta Coffee Importers sold 7000 units in October at a sales price of $45 per unit. The variable cost is $20 per unit. The monthly fixed costs are $8000. Using the contribution income statement format,
Link Copied!