Accounting UnpluggedFinancial Statements – Income Statement | Accounting Unplugged

Other Revenues include any “money in” (gain) that is not received from the sale of the usual business products or services, this might be a gain on the sale of an asset like a vehicle.

One of the Principles of GAAP is the Matching Principle.

The Balance Sheet account used in the transaction is an Equity account and is either Retained Earnings

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