After all of the account balances have been extended to the income statement columns of the worksheet, the totals of the debit and credit columns are $172,300 and $176,900, respectively. It can be concluded the company has a:
A)net loss of $4,600.
B)net income of $4,600.
C)net income of $176,900.
D)net loss of $176,900.

Question

Quizplus · Accepted Answer

The Answer of After all of the account balances have been extended to the income statement columns of the worksheet, the totals of the debit and credit columns are $172,300 and $176,900, respectively. It can be concluded the company has a:
A)net loss of $4,600.
B)net income of $4,600.
C)net income of $176,900.
D)net loss of $176,900.

After All of the Account Balances Have Been Extended to the Income