A net loss appears on the end-of-period spreadsheet in the
A) debit column of the Balance Sheet columns
B) credit column of the Balance Sheet columns
C) debit column of the Income Statement columns
D) credit column of the Adjustments columns

Question

Quizplus · Accepted Answer

A net loss is recorded in the debit column of the Balance Sheet columns to balance the accounting equation, as it reduces the owner's equity.

A Net Loss Appears on the End-Of-Period Spreadsheet in the