After net income is entered on the work sheet, the Balance Sheet Debit and Credit columns must
A) be the same amount as the total amount of the Income Statement Debit and Credit columns
B) equal each other
C) be the same amount as the total amount in the Adjusted Trial Balance Debit and Credit columns
D) not be equal to each other and need not be the same total amounts as any other pair of columns on the work sheet

Question

Quizplus · Accepted Answer

The Balance Sheet Debit and Credit columns must equal each other in order for the balance sheet to balance, as the name suggests. They do not need to be the same amount as the total amount in the Income Statement or Adjusted Trial Balance columns.

After Net Income Is Entered on the Work Sheet, the Balance