Income statements Vs statement of receipts and payments by matt 3844 https://padlet.com/matt3844/vn09q7mc19xz How do I figure out Revenues and Expenses? en-us 2017-10-20 00:08:31 UTC 2017-10-20 03:17:01 UTC hello@padlet.com Revenues foleeth1 https://padlet.com/matt3844/vn09q7mc19xz/wish/198904726 Increase in Assets and OE]]> 2017-10-20 00:12:19 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198904726 https://padlet.com/matt3844/vn09q7mc19xz/wish/198904755 What about interest on loan?
It's counted as a expense?]]> 2017-10-20 00:12:42 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198904755 https://padlet.com/matt3844/vn09q7mc19xz/wish/198904883 revenue is earned by the business in the form of cash dollars
Receipts are not earned by the business for example owners equity (contributed by owner)

expenses are a loss of owners equity which means any profit earned by  the business
Payments are generally a decrease in bank account (assets) not owners equity]]> 2017-10-20 00:13:39 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198904883 Revenues are from the business selling or providing a trade https://padlet.com/matt3844/vn09q7mc19xz/wish/198904989 Expenses are?]]> 2017-10-20 00:14:49 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198904989 https://padlet.com/matt3844/vn09q7mc19xz/wish/198905302 expenses are decrease in bank (Asset)

]]> 2017-10-20 00:18:01 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198905302 foleeth1 https://padlet.com/matt3844/vn09q7mc19xz/wish/198905382 expenses ]]> 2017-10-20 00:18:49 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198905382 https://padlet.com/matt3844/vn09q7mc19xz/wish/198905669 revenue is increase in bank - so is receipt


]]> 2017-10-20 00:20:59 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198905669 https://padlet.com/matt3844/vn09q7mc19xz/wish/198905923 if it affects the owners equity, then it must be an expense or revenue 

]]> 2017-10-20 00:23:00 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198905923 https://padlet.com/matt3844/vn09q7mc19xz/wish/198905939 2017-10-20 00:23:05 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198905939 Expense https://padlet.com/matt3844/vn09q7mc19xz/wish/198905988 2017-10-20 00:23:32 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198905988 https://padlet.com/matt3844/vn09q7mc19xz/wish/198905993 An income statement is a financial statement that reports a company's financial performance over a specific accounting period]]> 2017-10-20 00:23:37 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198905993 https://padlet.com/matt3844/vn09q7mc19xz/wish/198906010 expense is decrease in assets 
 
assets = a useful or valuable thing or person.]]> 2017-10-20 00:23:46 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198906010 Hello People foleeth1 https://padlet.com/matt3844/vn09q7mc19xz/wish/198927515 2017-10-20 03:17:01 UTC https://padlet.com/matt3844/vn09q7mc19xz/wish/198927515