In which of the columns of the worksheet would Profit be found?
A)In the trial balance credit column, the adjusted trial balance credit column and the balance sheet credit column
B)In the trial balance debit column, the adjusted trial balance debit column and the balance sheet debit column
C)In the balance sheet credit column and the Income statement debit column
D)In the balance sheet debit column and the Income statement credit column

Question

Quizplus · Accepted Answer

Profit is typically found in the balance sheet credit column as it represents retained earnings or net income, and in the income statement debit column as it is the result of revenues minus expenses.

In Which of the Columns of the Worksheet Would Profit