Net loss is entered onto which columns of a worksheet?
A)income statement credit and balance sheet debit
B)income statement credit and balance sheet credit
C)adjusted trial balance credit and income statement credit
D)income statement debit and balance sheet credit

Question

Quizplus · Accepted Answer

A net loss is recorded on the income statement credit column to balance the expenses and revenues and on the balance sheet debit column to adjust the owner's equity or retained earnings.

Net Loss Is Entered onto Which Columns of a Worksheet