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Matt Jones, Current year net income

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

The net amount of revenues and gains minus expenses and losses for the sole proprietorship owned by Matt Jones. After the financial statements are prepared for the year, this amount will be transferred to Matt Jones, Capital.

Dictionary

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  6. F
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  8. H
  9. I
  10. J
  11. K
  12. L
  13. M
  14. N
  15. O
  16. P
  17. Q
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  24. X
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  • Debits and Credits
  • Adjusting Entries
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  • Balance Sheet
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  • Financial Ratios
  • Bank Reconciliation
  • Accounts Receivable and Bad Debts Expense
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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