If the total debits exceed total credits in the balance sheet columns of the work sheet, owner's equity
A) will increase because profit has occurred.
B) will decrease because a loss has occurred.
C) is in error because a mistake has occurred.
D) will not be affected.

Question

Quizplus · Accepted Answer

The Answer of If the total debits exceed total credits in the balance sheet columns of the work sheet, owner's equity
A) will increase because profit has occurred.
B) will decrease because a loss has occurred.
C) is in error because a mistake has occurred.
D) will not be affected.

If the Total Debits Exceed Total Credits in the Balance