Income statement: Income statement reports net income or net loss of the business by matching revenues and expenses of the business. To identify: The following are the treatment of different situation and their presentation in the financial statements during the year 2018 for one of the client.

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Chapter 4, Problem 4.6BYP

(1) and (2)

To determine

Income statement:

Income statement reports net income or net loss of the business by matching revenues and expenses of the business.

To identify: The following are the treatment of different situation and their presentation in the financial statements during the year 2018 for one of the client.

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