The following accounts were taken from the Adjusted Trial Balance columns of the work sheet: Net income for the period is
A)$5,500
B)$11,900
C)$17,400
D)$8,700

Question

The following accounts were taken from the Adjusted Trial Balance columns of the work sheet:​  Net income for the period is
A)$5,500 
B)$11,900 
C)$17,400 
D)$8,700

Quizplus · Accepted Answer

The net income for the period can be found by subtracting the total of the Debit column from the total of the Credit column in the Adjusted Trial Balance section of the worksheet. In this case, the total of the Debit column is $64,700 and the total of the Credit column is $52,800. Subtracting these amounts gives a net income of $11,900 (B).

The Following Accounts Were Taken from the Adjusted Trial Balance