This preview shows page 1. Sign up to view the full content.
Unformatted text preview: and shows the company's net income or net loss for a particular period of time. This statement may be prepared using a single-step or multiple-step format. The single-step format puts revenue and expense accounts into separate groups. Then, total expenses are subtracted from total revenues to determine the net income or loss....
View Full Document
This note was uploaded on 11/14/2011 for the course ACCT 1310 taught by Professor Staff during the Fall '10 term at Texas State.
- Fall '10