Net income is shown on the work sheet as a
A) debit in the Balance Sheet column.
B) credit in the Income Statement column.
C) debit in the Income Statement column.
D) debit in the Adjustments column.

Question

Quizplus · Accepted Answer

Net income is shown as a debit in the Income Statement column because it represents the excess of revenues over expenses, which increases the equity and is recorded as a debit in the income statement section of the worksheet.

Net Income Is Shown on the Work Sheet as a