On a worksheet, the adjusted balance of the revenue account Fees Income would be extended to:
A)the Balance Sheet Credit column.
B)the Income Statement Debit column.
C)the Income Statement Credit column.
D)the Balance Sheet Debit column.

Question

Quizplus · Accepted Answer

The adjusted balance of the revenue account Fees Income would be extended to the Income Statement Credit column because it is a type of revenue account, and revenues are traditionally credited on the income statement. The balance would not be extended to the Balance Sheet as revenues are not typically reported on the Balance Sheet.

On a Worksheet, the Adjusted Balance of the Revenue Account