Net income appears on the work sheet in the
A) debit column of the Balance Sheet columns
B) debit column of the Adjustments columns
C) debit column of the Income Statement columns
D) credit column of the Income Statement columns

Question

Quizplus · Accepted Answer

Net income appears in the debit column of the Income Statement columns because it represents the excess of revenues over expenses, which is a credit balance, and is transferred to the debit side to balance the columns.

Net Income Appears on the Work Sheet in the