After the account balances have been extended from the Adjusted Trial Balance columns on the work sheet, the difference between the initial totals of the Balance Sheet debit and credit columns is net income or net loss.

Question

Quizplus · Accepted Answer

The difference between the Balance Sheet debit and credit columns after adjustments represents net income or net loss, as it reflects the company's financial performance.

After the Account Balances Have Been Extended from the Adjusted