What will be the effect of Accrued Expenses on Income Statement? 1. Added to Concerned Expense A/c 2. Subtracted from the Concerned Expense A/c

Question added by Sabir Hussain , Accounting Manager , Etihad Aviation Tours & Travels
Date Posted: 2015/08/31

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by Asad Ahmed , Manager Finance & Company Secretary , Connect Communications Pvt. Ltd.

Accrued Expenses are added to the Concerned Expenses on Income Statement

The effect of accrued expenses in income statement will decrease the profit.1 &2 will no effect.

A manufacturing corporation asked you to prepare its income statement in its first fiscal year from these data . How much its net income ?
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The purpose of the income statement?
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How are the income statement and balance sheet linked?
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The purpose of the income statement is to show the:
Top Answer: <p>D. It shows the net profit or loss over the period</p> See More

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