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

Question

Quizplus · Accepted Answer

A net loss would be found in the income statement credit column (as expenses are debits and reduce net income) and the balance sheet debit column (as it reduces retained earnings, which is an equity account).

In Which of the Columns of the Worksheet Would a Net