In a worksheet for a merchandising company, Merchandise Inventory would appear in the
A) trial balance and adjusted trial balance columns only.
B) trial balance and balance sheet columns only.
C) trial balance, adjusted trial balance, and balance sheet columns.
D) trial balance, adjusted trial balance, and income statement columns.

Question

Quizplus · Accepted Answer

Merchandise Inventory is an asset and therefore should appear in the trial balance, adjusted trial balance, and balance sheet columns. It is not a revenue or expense account, so it would not appear in the income statement column.

In a Worksheet for a Merchandising Company, Merchandise Inventory Would