Question

utilities expense in the catergorie income statement. i think. if not is it owner equity or balance sheet.

Answer 1

Yes that is correct, it is the categorie statement, what is utility, water, electricity, etc. and it goes it to your expense. Income statement tells you your salary minus your expense which includes the utilities expense The Income Statement shows your Revenues, Expenses, and Profit for a particular period which shows whether or not your business is profitable at that point in time; Revenue - Expenses = Profit/Loss