Which of the following is true of a completed worksheet?
A)The total debits in the unadjusted trial balance column equal the total debits in the adjusted trial balance column.
B)The total debits in the income statement column equal the total credits in the balance sheet column.
C)The total debits in the income statement column equal the total debits in the balance sheet column.
D)The total of all the debit columns is equal to the total of all the credit columns.

Question

Quizplus · Accepted Answer

A completed worksheet has all the necessary adjustments and account balances entered. The total of all the debit columns should be equal to the total of all the credit columns, indicating that the accounting equation is in balance. Option A talks about unadjusted and adjusted trial balance columns, which may not necessarily be applicable to all completed worksheets. Option B talks about income statement and balance sheet columns, which are specific columns in a classified worksheet and may not be applicable to all completed worksheets. Option C is incorrect as the total debits in the income statement and balance sheet columns may not necessarily be equal.

Which of the Following Is True of a Completed Worksheet