If total credits in the income statement columns of a worksheet exceed total debits the enterprise has net income.
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Q10: Closing entries are journalized after adjusting entries
Q11: Closing entries are unnecessary if the business
Q12: If a worksheet is used financial statements
Q13: The amounts appearing on an income statement
Q14: Both correcting entries and adjusting entries always
Q16: The post-closing trial balance is entered in
Q17: The adjustments on a worksheet can be
Q18: The balance of the depreciation expense account
Q19: The owner's drawings account is closed to
Q20: Correcting entries are made any time an
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