Is buying an equipment appears on the profit an loss account( Income statement) as an expense?
No, buying equipment is not considered an expense and does not appear on an income statement when you buy it. When you buy equipment, the debit & credit can be something like this: DR: Equipment (an increase of the assets on balance sheet) CR: Cash (a decrease of the assets on balance sheet). The income statement will be affected when equipment is depreciated over the life of the asset.
