Creating an Income Statement
Grade 9th Grade · Career & Technical Education · 40 min
What's Included
Learning Objective
I can prepare a simple income statement using provided financial data.
Warm-Up Video
Steven Force · 3:12
How to Prepare an Income Statement
Guided Notes
3 key concepts
- 1
An income statement is one of four financial statements and is the first one you will prepare.
- 2
To find net income, take revenues and subtract expenses.
- 3
On an income statement, expenses are listed in order from greatest to least.
Practice Questions
8 questions · Multiple choice & Short answer
Exit Ticket
Quick comprehension check
“Prepare a simple income statement using the following information for Smith Company for the month ended December 31, 2023: Service Revenue: $90,000, Rent Expense: $15,000, Salaries Expense: $40,000, and Utilities Expense: $5,000. Show all work.”
Complete Lesson Package
Get all 3 ready-to-use resources:
