In the completed work sheet,which set of columns usually should be out of balance after the initial footing?
A) Both Income Statement and Balance Sheet columns
B) Both Trial Balance and Income Statement columns
C) Adjusted Trial Balance columns only
D) Adjustments columns only

Question

Quizplus · Accepted Answer

The Income Statement and Balance Sheet columns are typically out of balance initially because the net income or loss has not yet been transferred to the balance sheet.

In the Completed Work Sheet,which Set of Columns Usually Should