intermediateaccountingTheIncomeStatement幻灯片.pptVIP

;Learning Objectives;Describe the specific components of an income statement.;;Define the concept of income.;Income Determination;Beginning of Period;Net assets, end of period $170,000 Net assets, beginning of period 80,000 Change (increase) in net assets $ 90,000 Deduct investment by owners (40,000) Add dividends to owners 15,000 Income $ 65,000 ;Physical Capital Maintenance;Explain why an income measure is so important.;;Revenue and Gain Recognition;If a market exists for a product so that its sale at an established price is practically ensured without significant selling effor