Assuming that there is a net loss for the period debits equal credits in all but which section of the worksheet?
A) Income statement columns
B) Adjustments columns
C) Trial balance columns
D) Adjusted trial balance columns

Question

Quizplus · Accepted Answer

The income statement columns are where revenues and expenses are recorded, and if there is a net loss, the total debits will be less than the total credits. In the adjustments, trial balance, and adjusted trial balance columns, the debits will always equal the credits regardless of whether there is a net loss or gain.

Assuming That There Is a Net Loss for the Period