When a company has earned a net income, the net income amount is entered on the work sheet on the
a. credit side of the Income Statement columns and the debit side of the Balance Sheet columns.
b. debit side of both the Income Statement and the Balance Sheet columns.
c. debit side of the Income Statement columns and the credit side of the Balance Sheet columns.
d. credit side of both the Income Statement and the Balance Sheet columns.
C
You might also like to view...
A payroll clearing account is a separate bank account used solely for payroll purposes. Funds are transferred into the account to cover payroll checks to be issued
Indicate whether the statement is true or false
______________occurs when information is not passed on to the supervisor.
a. Gatekeeping b. Summarization c. General distortion d. Withholding
Discuss at least three things that the researcher who is developing a questionnaire can do to increase the willingness of the respondent to answer
What will be an ideal response?
A petty cash fund was established with a $390 balance. It currently has cash of $43 and petty cash tickets totaling $347. Which of the following would be included in the entry to replenish the fund?
A) a credit to Petty Cash for $347 B) a debit to Petty Cash for $43 C) a credit to Cash for $43 D) a credit to Cash for $347