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Topic: |
Business
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Number of pages / Number of words: |
2 / 548 |
Essay's paper body
The cash accounting method is used by most individuals and small businesses, that have limited accounts payables and accounts receivables or whose income and expense cash flows are closely associated with each other in time. A simple Income Statement and Balance Sheet for cash method accounting might look like the following:
Northway Apartments
Income Statement
For the financial year ended 30 July 2007
Revenue ...
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A simple Income Statement and Balance Sheet for cash method accounting might look like the following:
Northway Apartments
Income Statement
For the financial year ended 30 July 2007
Revenue ............................ $2,200
Expense ............................ 1500
------
Net income ...........
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