In which of the columns of the worksheet would Net Income be found?
A)under the unadjusted trial balance credit column,the adjusted trial balance credit column and the balance sheet credit column
B)under the unadjusted trial balance debit column,the adjusted trial balance debit column and the balance sheet debit column
C)under the balance sheet debit column and the income statement credit column
D)under the balance sheet credit column and the income statement debit column

Question

Quizplus · Accepted Answer

Net Income is found under the balance sheet credit column and the income statement debit column because it represents the excess of revenues over expenses, which increases equity (credit) and is shown as a deduction from total revenues in the income statement (debit).

In Which of the Columns of the Worksheet Would Net