income statement prep

In the income statement, where is a bank loan placed?

Answers
AF1101_Past_paper_January_2014__2___1_.pdf
jennifahn
28 July 2015
Hello I used to work in the collections department for both Lloyds TSB and Barclays for a two ear period while I took a break from my medical studies. I can assist you with ll loan application based quieries. Thanks, Johnathan
Johnathan S.
31 August 2015
In Income Statement Bank Loan is Not Placed ,only Interest paid on such loan  is showed as an expense in Income Statement. It will be Placed in Balance Sheet in Current Liabilities
kishorekeerthi
11 July 2018
Income Statement does not include Bank Loan. Since income statement is statement of income and expenditure and Bank Loan is not income or expenditure.Bank Loan is a liability of organization and will be shown in Balance Sheet in Current Liabilities (if it is for one year or less) and Non Current Liabilities (if it is for more than a year).
caanilmittal
27 August 2018
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