Income statement and Balance sheet Q1

This is how to calculate an income statement and balance sheet and subsequent questions in relation to the two financial reports

[Hefty_Joe]

I’ve learned more from this video than from a month taking a college financial accounting class

[chimammeje]

Doing my Msc, and I've learned more from YouTube than anything they've taught me in class

[jtjlvzs]

thanks maurice!!! very helpful, financial accounting in 12 hours.. wish me luck!!! يالله توفيقك

[africanadage]

Greater breakdown Maurice. Really appreciate this. God bless.

[gimmecheesecake]

Thank you so so much now i have a clear understanding on how to formulate an income statement correctly

[anjalipyaneeandee]

I understood more in an 11 minute video about accounting past papers more than the 2hr lecture I get w my accounts professor in UNI

[rozahbenard]

Thanks man! This is awesome. Looking foward for more.

[mauricesheridan]

There are no debit and credits in an Income statement, this is a financial report. Debits and credits will be in the trial balance, to ensure that all information is captured
For those that are interested in the balance sheet for this here is the link

[amirMot]

if its prepaid rent do you not deduct it from rent expenses?

[salamahmuganga]

hi am new in learning financial accounting, quick question why does the sales increases to 1, 780, 000 yet it was1, 800,000? a bit confused

[raymondeliani]

Hey Maurice, I've understood the I.S, how about the continuation on preparing the balance sheet?

[osaspro]

Great video.!! A Quick question. If I had brought a piece of filming equipment for 20, 000 and then sold it for 8, 000 after use. Where could I enter that, if I had made some losses on the equipment...Income?

[balocheducationchannel]

Sir if we directly have COGS then why we deduct direct expenses like wages???

[yxcin]

where shld i put interest on loan? income statement or balance sheet ?

[bluelily]

Need help understanding profit before tax transaction coming to the end of video

[beatricejoseph]

How can you record the discount received and allowed in income statement

[franciscozevallos]

wouldn't that prepaid revenue be considered Unearned Revenue???

[sadriddin_aliev]

Hi. This is helpful for me. But u made mistake when you were spelling 880.000 But thanks for video

[powerlegends]

Hi. How can i send you a this screenshot of my gf's assignment. Can you please help me answer them.

[uroztas]

doesn't the answer need to reconcile back to £15k ?