Net income appears on the end-of-period spreadsheet in the
A) debit column of the Balance Sheet columns
B) debit column of the Adjustments columns
C) debit column of the Income Statement columns
D) credit column of the Income Statement columns

Question

Quizplus · Accepted Answer

Net income appears in the debit column of the Income Statement columns because it is the excess of revenues over expenses, which are recorded as credits. To balance the columns, net income is recorded as a debit.

Net Income Appears on the End-Of-Period Spreadsheet in the