Question

Briefly describe in 75 words or fewer, what is the value in preparing an income statement...

Briefly describe in 75 words or fewer, what is the value in preparing an income statement with various levels of subtotals?

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Generally subtotals are for the gross margin, operating expenses and other income that assist readers to know how much the business earns just from its activities of manufacturing, what it spends on supporting operations and which business component of its results are not relate to entity's core activities. It helps readers to make a comparison on a firm's gross margin to its previous gross margins and to the industry's gross margins.

Add a comment
Know the answer?
Add Answer to:
Briefly describe in 75 words or fewer, what is the value in preparing an income statement...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT