On a work sheet, the Income Statement Debit column equals $90,800, and the Income Statement Credit column equals $105,600. From this data, it can be determined that the company had a
A)net loss of $14,800 added to the Income Statement Debit column.
B)net income of $14,800 added to the Income Statement Debit column.
C)net loss of $14,800 added to the Balance Sheet Credit column.
D)net income of $14,800 added to the Balance Sheet Debit column.
E)net income of $14,800 added to the Adjusted Trial Balance Credit column.

Question

Quizplus · Accepted Answer

The Income Statement Debit column is less than the Income Statement Credit column, which means that the company had a net income. The net income is added to the Income Statement Debit column to balance the statement.

On a Work Sheet, the Income Statement Debit Column Equals