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I can think at least several possible answers off the top of my head you already had an enough excess to cover the decrease; you cut expenses, you added credit options to for consumers to pay for goods or services. you paid off some large capital expenses incurred for start-up or (infrequent recurrent expenses) , a grant that allows release of funds based upon reaching certain milestones, investments realize a profit some business entities (this is all that kept some afloat during the current recession or economic turndown); an increase in in-kind donations , gifts our awards, improved purchasing practices, eliminating goods or services that lost money or were marginally profitable, utilizing these savings and reallocating these resources to expand in areas that yield quicker and/or have a larger profit margin, if you are in a company where cost centers are used to separate monies to compare how one service is performing ( for example to split the cost of office space utilites and supplies between several different services or departments review the allocations REVIEW to be sure they are accurate and if need be make the changed I did this moving all my staff out of a facility shared with another program and moved my staff in to some of my existing space within the corporation and saved my program @180,000 a year(cost shiftiing}It is a good practice,on a regular basis to review how your expenses and revenue are being allocated anyway especially if your program//dept. etc. is growing quickly. I took over management of a service one time, where the allocations for space/utilities,etc. had not been updated in 10 years. It's hard to manage without valid information. These days we are expected to do more and more with less and less. It's called "working smarter"
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Are the income a balance sheet account?
Income is an income statement account and shown in income statement and not a balance sheet account.
How income statement affect balancesheet?
Income statement and balance sheet are both related to each other as transactions effect income statement and balance sheet as well and net income or loss from income statement is also part of balance sheet.
Miscellaneous expenses in the balance sheet?
Miscellaneous expenses are part of income statement and not part of balance sheet and not shown under balance sheet.
What is the linkage between income statements and balance sheet?
Income statement and balance sheet are linked in this way that income statement describes how assets and liabilities are utilized to earn revenue and net income while balance sheet describes the information about remianing amount of assets and liabilities.
Is unearned revenue recorded on the balance sheet or the income statement?
unearned income is to be shown as a liability in balance sheet until the commitment for such receipt is satisfied.
Are the income a balance sheet account?
Income is an income statement account and shown in income statement and not a balance sheet account.
Is interest on fixed deposit located on income statement or balance sheet?
both.. balance sheet under liquid asset..income statement under inflow/income..
Allowance for doubtful accounts is reported in the a balance sheet or a income sheet?
balance sheet
Are accounts payable on the income statement and balance sheet?
yes accounts are payable on the income statement and balance sheet.
How income statement affect balancesheet?
Income statement and balance sheet are both related to each other as transactions effect income statement and balance sheet as well and net income or loss from income statement is also part of balance sheet.
Are exploration expenses located on a balance sheet or income statement?
balance sheet
Where does an escrow payable appear on a balance sheet or a income statement?
balance sheet
Where does stationary go on a balance sheet in business studies?
Stationery, as an accounting item, does not appear on a business Balance Sheet. The Balance Sheet is reserved for assets and liabilities. The Income Statement reflects income and expenses and because Stationery is an expense item it will appear on the Income Statement and not the Balance Sheet.
Where does interest go on balance sheet?
Interest is part of income statement and shown in income statement and not part of balance sheet.
Are closing adjustments needed for the balance sheet?
Yes, closing adjustments are needed for the balance sheet because they increase retained earnings (in stockholders' equity) by the amount of net income or decrease it by the amount of net loss. They also decrease retained earnings by the amount of any dividends declared. Closing adjustments affect the income statement by reducing all income statement accounts to zero.
Is income tax payable located on a balance sheet or income statement?
No. Income taxes payable is a liability and would show up on the balance sheet (although it might not have its own caption depending on how material the number is compared to the rest of the Company's liabilities). The income statement account that is typically "the partner" to the income taxes payable account is the current tax provision.
Is discount received balance sheet item or not?
It's only treated in income statement, not balance sheet.
