Answer:
Common size statements
Explanation:
A common size statement is when line items in a financial statement are shown as percentages of a common base figure. For example, line items are shown as percentages of value of revenue in the income statement.
I hope my answer helps you
Explanation:
The reporting is shown below:
Income statement
Particulars Amount Particulars Amount
Depreciation
expense $28,800
Balance sheet
Liabilities Amount Assets Amount
Equipment $240,000
Less: Accumulated
Depreciation -$144,000
Net value of an equipment $96,000
Only these items would be displayed on the income statement and the balance sheet
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The transaction effect on the global cleaning service's accounting equation is to increase both assets and equity by $180.
An asset is a property or an equipment that is purchased for the purpose of business activities, examples of business assets include cash, equipment, buildings and inventory to vehicles and office furniture. In this case assets worth $180 increased (may be cash or bank, depending on the means of payment) and also an increase in equity.
Well it is a graph or diagram that can show a lot of information and It may convey a point better then just a piece of writing
