How do you create a balance sheet and income statement from your bank statements?
by 
Anonymous
ANSWERS: 1
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You Don't. A Balance Sheet shows assets (what you own), liabilities (what you owe)and equity (what you own, that you do not owe against). Your checking account is one item on your balance sheet. It is an asset. The money that flows into and out of your bank account should reflect income, expenses, and payments against assets which you owe money for, payroll and the like. Your bank statement is more like a statement of cash flow (money in and money out).
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