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Sagot :
Her schedule c for 2022 lists $1,791 in expenses.
Businesses spend money on a variety of things. A sort of expenditure known as an expense is one that moves through the income statement and is subtracted from revenue to determine net income. The accrual principle in accounting dictates that costs are recorded when they are incurred rather than always when they are paid for.
An expense and a capital expenditure are identical except that an expense has been recorded using the accrual principle and appears on the income statement while a capital expenditure is immediately recorded as an asset on the balance sheet.
A capital expenditure that has been recorded as an asset on the balance sheet may later be expense through depreciation and amortization, which moves through the income statement.
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