Question:

These all are expense on an income stament ?

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Accumulated Depreciation, Depreciation Expense, Note Payable Interest Expense, Utilities Expense, Rent Expense, Salaries Expense,Supplies, Supplies Expense, Wages Payable,.

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  1. No, not all of them are expenses, and not all of them would be found on an income statement.

    Accumulated Depreciation - Not an expense.  You'll find it on the Balance Sheet listed directly under the depreciable assets.  It's basically the running total of how much has been depreciated from year to year.

    Depreciation Expense - Yes.

    Note Payable (I assume this was meant to be a separate account) - This is a liability and would be found on the Balance Sheet in the Liabilities Section.

    Interest Expense - Yes.

    Utilities Expense - Yes.

    Rent Expense - Yes.

    Salaries Expense - Yes.

    Supplies - No.  This is considered an asset account.  Sometimes it's termed differently, but in most accounting courses, supplies is listed as an asset.  

    Supplies Expense - Yes.

    Wages Payable - No.  This is a liability, and you would find it on the Balance Sheet in the Liabilities section.


  2. Hint, you can't list depreciation or wages twice.

  3. Accum. Depr. is a "contra" asset account. (With this account we are tracking the depreciation taken in prior & current year.

    Wages payable is a liability account. ( This tracks what is owed to employees between end of  period  and paydate.

    All the others are expenses, You stated "supplies twice" and Good form would calL "notes...interest exp" just plain old "interest expense".

  4. You're double listing EVERYTHING, I reccomend getting a GOOD CPA to assist you with your income statement.  Interview them before you put the money down for them.  

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