Here, i would like to tell you about “how to make an Financial statement” actually for prepared “income statement reports”. An”income statement” presents the revenues and expense . and finally resulting net income or net loss for a spesific period of time.
Before you prepared your income statement report , you should finishising 3 step :
Step 1. Identified every transactions
Step 2. Recorded every transactions
Step 3. Summarized every transactions
On the income statement , revenue are listed first and followed by expenses.
here i would like to describes the income statement:
And this is example an income statement:
FOR THE MONTH ENDED SEPTEMBER 30, 2013
Service revenue $ 4000
Salaries expense $ 200
Rent expense $ 100
Adv expense $ 300
Total expense $ 600
NET INCOME $ 3400