Getting comprehensive control over your files at any moment is vital to relieve your day-to-day tasks and boost your efficiency. Achieve any goal with DocHub features for papers management and practical PDF editing. Gain access, adjust and save and incorporate your workflows with other protected cloud storage.
DocHub gives you lossless editing, the opportunity to work with any formatting, and securely eSign documents without the need of searching for a third-party eSignature option. Get the most of the file management solutions in one place. Consider all DocHub features today with the free of charge account.
in this video were going to talk about how to create a single step income statement so a single step income statement just has one step we take all the revenues that the firm has and then we subtract all the expenses that the firm has and that gives us net income so thats why we call it single step theres just one step just revenues minus expenses equals net income so lets do an example with an adjusted trial balance and lets put together a single step income statement so weve got a company here called Gator world its a petting zoo for alligators and weve got an adjusted trial balance so weve made all the adjusting journal entries already and its as of December 31st 2018 and we have all these different accounts and we need to figure out which ones are gonna go on our income statement so we only want revenues and expenses right so service revenue rent revenue selling expense cost of goods sold rent expense GA expense interest expense depreciation expense and bad debt expense