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Constructing and Understanding the Income Statement for Sole Traders

Study Guide - Learn with Videos

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Single-step Income Statement

  • Guided course
    Single-step Income Statement
    04:56

Multi-step Income Statement

  • Guided course
    Multi-step Income Statement
    07:15
  • Guided course
    Multi-step Income Statement
    09:57

Trial Balance

  • Guided course
    Constructing a Trial Balance
    06:06
  • Guided course
    Using T-Accounts
    06:43

Journal Entries: Debits and Credits

  • Guided course
    Journal Entries: Debits and Credits
    02:35
  • Guided course
    Journal Entry
    04:24

Net Sales

  • Guided course
    Net Sales:Sales Allowances
    06:39
  • Guided course
    Net Sales:Sales Returns
    05:04
  • Guided course
    Net Sales:Sales Discounts (Net Method)
    02:43

Cost of Goods Sold - Perpetual Inventory vs. Periodic Inventory

  • Guided course
    Cost of Goods Sold:Perpetual Inventory
    03:41
  • Guided course
    Cost of Goods Sold:Periodic Inventory
    05:53