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A companys net income appears directly on the income statement and the owners equity statement, and it is included indirectly in the companys balance sheet. Do you agree? Explain.

Chapter 1, Questions #19
A company’s net income appears directly on the income statement and the owner’s equity statement, and it is included indirectly in the company’s balance sheet. Do you agree? Explain.


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Yes. Net income does appear on the income statement x it is the result of subtracti…View the full answer

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Related Book For answer-question
Accounting Principles

Accounting Principles

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

ISBN: 9781118566671

Answers for Questions in Chapter 1

Brief Exercises:
Broadening Your Perspective:
DO IT! Review:
Exercises:
Problem Set A:
Problem Set B:
Questions:

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