Which of the following is the LAST step of preparing the worksheet?
A) Compute each account's adjusted balance by combining the trial balance and adjustment figures. Enter each account's adjusted amount in the adjusted trial balance columns.
B) On the income statement column, compute net income. Enter net income as the balancing amount on the income statement and balance sheet columns. Total the income statement and balance sheet columns.
C) Copy the asset, liability, and owner's equity amounts from the adjusted trial balance to the balance sheet columns. Copy the revenue and expense amounts to the income statement columns. Total each column.
D) Enter the adjusting entries in the adjustments columns, and total the amounts.

Question

Quizplus · Accepted Answer

The last step of preparing the worksheet is to compute the net income and enter it as the balancing amount on both the income statement and balance sheet columns. The income statement and balance sheet columns are then totaled.

Which of the Following Is the LAST Step of Preparing