Does it matter if you list utilities as "utilities" instead of "utilities expense" on the income...
Does it matter if you list utilities as "utilities" instead of "utilities expense" on the income statement under the expenses section? Does this change anything if I list it as "utilities expense"? Thanks for your help!
Homework Answers
Answer -
Step - (1) - Facts of Questions given -
It is given that, if you list utilities as "utilities" instead of "utilities expense" on the income statement under the expenses section, does it has any different impact on income statement ?
Step - (2) - Analysis and Conclusion -
- In general, Utilities expense are reported under the head "Expense" in income statement.
- So, if we list "utilities" instead of "utilities expense'' in income statement , that doesn't affect any thing in income statement.
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