An amount for owner's Capital would not appear in which of the following work sheet columns?
A)Income Statement
B)Balance Sheet
C)Trial Balance
D)Adjusted Trial Balance

Question

Quizplus · Accepted Answer

Owner's Capital does not appear in the Income Statement column of the work sheet, as it is not related to the calculation of revenues and expenses. The Income Statement column includes only the revenue and expense accounts. The Owner's Capital account is reported in the Balance Sheet column, which reports the assets, liabilities, and owner's equity of a business at a specific point in time. The Trial Balance and Adjusted Trial Balance columns include all the accounts, including Owner's Capital, to ensure that the debit and credit totals are equal before preparing the financial statements.

An Amount for Owner's Capital Would Not Appear in Which