Income statement

Fred Krogh fkrogh at mathalacarte.com
Wed Dec 20 11:41:13 EST 2006


Derek Atkins wrote:
> Hi,
>
> Quoting Fred Krogh <fkrogh at mathalacarte.com>:
>
>> Hi Derek --
>>    I'm only sending this to you.  I've attached 5 screenshots.  (Just
>> did this for the first time, so maybe I'm not doing this as cleanly as
>> one might wish.)  I think all is self-explanatory.  Many thanks for
>> looking at this.
>> Fred
>
> I'm replying back to the list so others can see my answers (even if
> they might not have all the details anymore).  The key is in the
> second screenshot.  On 7/26/06 you have a "Charge" transaction that
> is exactly the same amounts as the "Income" transactions on 8/29/06.
> So, yes, the sum is $0 because the 7/26 and 8/29 transactions balance
> each other.
Many thanks.  Yes I was confused about the double entry bookkeeping.
Fred



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