Balancing 3 Financial Statements
Hello, If Sales are $100, COGS are $70, how do the 3 financial statements change. How is Balance Sheet balanced?
Thank you
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So what you are trying to say is "If gross profit increases $30, how does this impact the three financial statements?"
google it, explain what you think happens and I am sure WSO community will be more than happy to provide feedback.
Think about it this way. What happens when you reduce inventory (making an assumption here) and receive payment on the balance sheet? Of course you also want to move through the IS and CFS.
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