The following accounts were taken from the Adjusted Trial Balance columns of the work sheet:

Net income for the period is
A)$3,200
B)$12,100
C)$17,400
D)$8,900

Question

The following accounts were taken from the Adjusted Trial Balance columns of the work sheet:

Net income for the period is
A)$3,200 
B)$12,100 
C)$17,400 
D)$8,900

Quizplus · Accepted Answer

The net income for the period can be found by subtracting the total of the Debit column of the Adjustments section ($8,900) from the total of the Credit column of the Adjustments section ($3,200 + $12,100 + $17,400), which results in a net income of $12,100.

The Following Accounts Were Taken from the Adjusted Trial Balance