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Is net income an asset?

In: Financial Statements [Edit categories]

Answer:

In the balance sheet net income is not treated as an asset, it is added to capital, however if one is to look a bit deeper into the the entire cycle net income would make up part of the current asset. Income from sales would increase your cash, bank of accounts receivables. Remember accounting is double entry and for every debit there must be a corresponding credit.

First answer by ID3192918789. Last edit by ID3192918789. Question popularity: 2 [recommend question].

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