Earnings after deductions.
Net income is also called net profit or earnings. Net income is the difference between a company's gross profit and its total expenses. For example, if gross profit of a company is $400,000 while expenses are $300,000, the net income would be $100,000. The net income is found at the bottom of the income statement and often times referred to as "The Bottom Line" by business owners.
The excess of the total expenses over the gross profit.
The final amount of sales, determined by subtracting the amount of sales returns and allowances and sales discount from the total amount of sales, for a fiscal period.
It is also called equity or capital. Net worth or equity is the difference between total liabilities and total assets. For example, if total assets of a sole proprietorship is $500,000 and total liabilities is $350,000, the total net worth would be $150,000. In a corporation, net worth or stockholders equity consists of capital stock, capital surplus, and retained earnings (earned surplus).
Propertythat is not a capital asset.
Written interest-bearing promises to persons or businesses to pay certain amounts at certain times.
Notes Payable-Short Term:
Short-term (less than 12 months) interest bearing obligations, including bank and commercial paper.
Written interest-bearing promises from persons or businesses agreeing to pay certain amounts at certain times.