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In general, equipment belongs on the balance sheet, but there are some related expenses, such as depreciation, that you must also report on the income statement. Purchased Equipment Cost A business reports the initial cost of purchased equipment under the "property, plant and equipment" classification in the assets section of the .

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2019/01/11· Income Statement Overview The income statement presents the financial results of a business for a stated period of time. The statement quantifies the amount of revenue generated and expenses incurred by an organization during a reporting period, as well as any resulting net profit or loss..

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In general, equipment belongs on the balance sheet, but there are some related expenses, such as depreciation, that you must also report on the income statement. Purchased Equipment Cost A business reports the initial cost of purchased equipment under the "property, plant and equipment" classification in the assets section of the .

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