Owner Services Affecting The Profit And Loss Statement
Profit and Loss Income Statement
Hi, I am the owner of a construction corporation.
Being the primary carpenter on the jobs I do, the money I pay myself in Quikbooks is expensed through as follows;
service performed by subcontractor, then the owner equity account, then the job expense account.
My question though is should this amount reduce the profit and loss statement? Please explain.
Thanks so much, Tom