Accounting Tutorial_The Income Statement Chapter 3


Standard Payment Rates for Companies

The VE loan numbers for the year is an 60 month loan at 5.25%. Use these number in your own calculations.

1. A financial report that shows how much profit a company makes?

Balance Sheet Chart of Accounts Income Statement

2. An income statement contains the following type of accounts.

Assets and Liabilities Revenue and Expenses Expenses and Liabilities

3. Rent expense for VE companies should be?

$5,000 per month $3,500 per month $6,000 per month

4. What method was used for depreciating our assets?

Straight Line Sum of the Years Digits Units of Output