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Which of the following accounts would not go on an income statement? |
Cash, Shop Supplies, Prepaid Insurance, Equipement, Accumualted amortization (equipment), Accounts Payable, Wages Payable, Owner capital, Owner withdrawals, Repair fees earned, Amorization expense (equipment), Wage expense, Insurance expense, Rent expense, Office Supplies expense, Utilities Expense, Income Summary, Your question asked which of the accounts would NOT go on an income statement. any expenses Cash and Accounts Payable. I'm not real sure, but I'm pretty sure that it would be "owner withdrawals" because the owner's withdrawal is part of the profit. |
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