The net income or loss for the period is placed on the worksheet to balance which sets of columns?
A)the adjusted trial balance and the income statement columns
B)the income statement and the balance sheet columns
C)the balance sheet and the adjusted trial balance columns
D)the unadjusted trial balance and the adjusted trial balance columns

Question

Quizplus · Accepted Answer

The net income or loss for the period is used to balance the income statement and the balance sheet columns on the worksheet. This ensures that the total debits equal the total credits in these columns, reflecting the company's financial position accurately.

The Net Income or Loss for the Period Is Placed