Friday, July 09, 2021 11:27:15 AM
LOL Basic Accounting...the balance sheet is a picture of the company's accounts on the last day of the period. It shows you where the gain ended up, not where it came from. The Income Statement (Consolidated Statements of Operations) shows were it came from. It shows Revenue From Services of $1,081,000 and Other Revenue of $72,000 which includes the gains from the sale of crypto of $61,000. The Balance Sheet shows that instead of ending up in the cash account, the revenue from the services they sold ended up adding to their crypto currency assets.
Les
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