Which the the following accounts would show up in the income statement debit obelisk of the​ worksheet?Unearned RevenueService RevenuePrepaid InsuranceDepreciation Expense
The Interest cost in the​ worksheet"s unadjusted trial balance obelisk is​ $1,000. Interest price in the income statement obelisk is​ $12,000. Which of the following entries would have caused this​ difference? a​ $12,000 credit to Interest cost in the​ worksheet"s adjustments columnb$11,000 debit come Interest cost in the​ worksheet"s adjustments columnc​ $11,000 credit transaction to Interest cost in the​ worksheet"s adjustments columnd $12,000 credit transaction to attention Payable in the​ worksheet"s adjustments column
Which that the adhering to statements worrying the worksheet is​ correct?When a worksheet is​ used, there is no need to make newspaper entries.A worksheet consists of seven sections.A completed worksheet is a substitute for the financial statements.Section 5​ (Income Statement) and Section 6​ (Balance Sheet) are optional.

You are watching: Where does net income appear on a worksheet?


When prepare a​ worksheet, net income is taped in the​ _______.income declare debit columnbalance sheet debit columnincome statement credit transaction columnadjusted trial balance debit column
Which the the adhering to is true of a completed​ worksheet?The full debits in the earnings statement obelisk equal the total credits in the balance sheet column.The total debits in the unadjusted trial balance pillar equal the complete debits in the changed trial balance column.The complete of every the debit columns is equal to the full of all the credit transaction columns.
Which the the adhering to statements is true if the income statement credit column exceeds the income statement debit obelisk on a​ worksheet?The retained earnings account decreased during the period.An error to be made.The firm incurred a net loss.The agency made a net profit.
The worksheet helps accountants to​ ________.prepare the gaue won statementsprepare the unadjusted psychological balanceprepare the trial balancemaintain books of accounts there is no a journal
The worksheet is an external tool that have the right to be provided to aid in recording adjusting entries and preparing gaue won statements.TrueFalse
Prepaid rent in the​ worksheet"s unadjusted psychological balance pillar is $ 7 comma 000. Prepaid rental in the balance sheet pillar is $ 6 comma 000. I beg your pardon of the adhering to entries would have caused this​ difference? $ 1 comma 000 debit entry come Prepaid rental in the​ worksheet"s adjustments column$ 1 comma 000 credit entry to Prepaid rental in the​ worksheet"s adjustments tower $ 1 comma 000 credit entry to Rent cost in the​ worksheet"s adjustments column
Which of the complying with accounts would appear in the balance paper credit pillar of the​ worksheet?Prepaid InsuranceService RevenueBuildingsUnearned Revenue
Which of the adhering to accounts would appear in the balance paper debit obelisk of the​ worksheet?Prepaid InsuranceAccumulated DepreciationService RevenueUnearned Revenue
Which that the complying with statements is true that the​ worksheet?The worksheet is a form of journal.The worksheet is a tool that bring away the ar of financial statement preparation.The worksheet is a file used to summary data to prepare financial statements.
The income statement section of the worksheet includes​ ________.Service Revenue and also Utilities ExpenseLand and also Salaries PayableCommon​ Stock, Retained​ Earnings, and also DividendsFurniture and also Cash
The Interest price in the​ worksheet"s unadjusted psychological balance shaft is $ 1 comma 000. Interest cost in the revenue statement column is $ 11 comma 000. Which of the complying with entries would have caused this​ difference? $ 10 comma 000 debit come Interest expense in the​ worksheet"s adjustments column$ 11 comma 000 credit to Interest expense in the​ worksheet"s adjustments column$ 10 comma 000 credit transaction to Interest price in the​ worksheet"s adjustments column
Which the the following adjusted balances would appear in the balance paper credit column of a​ worksheet?Salaries PayableRent RevenueEquipmentInsurance Expense
In i m sorry of the columns the a worksheet would certainly a network loss be​ found?in the unadjusted attempt balance debit​ column, the adjusted trial balance debit​ column, and also the balance paper debit columnin the balance sheet debit column and the income statement credit columnin the balance sheet credit transaction column and also the income statement debit column
In which of the columns the the worksheet would Net income be​ found?the unadjusted attempt balance credit​ column, the changed trial balance credit​ column, and the balance sheet credit columnthe balance sheet credit column and the earnings statement debit columnthe unadjusted trial balance debit​ column, the changed trial balance debit​ column, and the balance paper debit column
Which the the complying with statements is true if the income statement debit shaft exceeds the income statement credit column of a​ worksheet?The agency made a net profit.The retained earnings account increased during the period.An error was made.The agency incurred a net loss.

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Where does network income appear on a​ worksheet?Net income shows up only in the income statement debit column.Net income appears in the earnings statement credit column and in the balance sheet debit column.Net income shows up in the balance sheet credit column and in the revenue statement debit column.Net income shows up only in the balance sheet credit transaction column.
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MyAccountingLab with Pearson eText -- Instant accessibility -- for Financial Accounting9th EditionCharles T. Horngren
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