Category: Financial Statement

Wages Payable Income Statement

Income Statement 4. Wages payable refers to the wages that a companys employees have earned but have not yet been paid. Wages expense is an expense account whereas wages payable is a current liability account. – Wages Expense on the income statement reports the amount of services received during the year – Wages Payable on […]

Normalized Income Statement

– NET INCOME – – DIV0. Remember that normalizing adjustments are but one step in many in the valuation process. Normalizing net income is the process of cleaning reported net income from the impact of non-recurring items All continuing income including income from non-core activities is included in normalized net income. These are adjustments that […]