Net income appears on the worksheet:
A)only in the balance sheet credit column.
B)only in the income statement credit column.
C)in the income statement debit column and balance sheet debit column.
D)in the income statement debit column and balance sheet credit column.

Question

Quizplus · Accepted Answer

Net income is recorded as a debit in the income statement to close out revenue and as a credit in the balance sheet to increase retained earnings.

Net Income Appears on the Worksheet