Which of these is the correct treatment on the worksheet of the nominated item?
A) For GST collection, credit the income statement and credit the balance sheet.
B) For depreciation, debit the balance sheet and credit the adjustments.
C) For profit earned, debit the income statement and credit the balance sheet.
D) For cash at bank, credit the adjustments and debit the balance sheet.

Question

Quizplus · Accepted Answer

The Answer of Which of these is the correct treatment on the worksheet of the nominated item?
A) For GST collection, credit the income statement and credit the balance sheet.
B) For depreciation, debit the balance sheet and credit the adjustments.
C) For profit earned, debit the income statement and credit the balance sheet.
D) For cash at bank, credit the adjustments and debit the balance sheet.

Which of These Is the Correct Treatment on the Worksheet