Which of the following accounts would appear in the Income Statement columns of the end-of-period spreadsheet?
A) Cash
B) Prepaid Insurance
C) Unearned Revenue
D) Net Loss

Question

Quizplus · Accepted Answer

Net Loss is the only account that appears in the Income Statement columns of the end-of-period spreadsheet, as it represents a loss incurred by the business during the period. Cash, Prepaid Insurance, and Unearned Revenue are all balance sheet accounts that would appear in the Balance Sheet columns of the end-of-period spreadsheet.

Which of the Following Accounts Would Appear in the Income