QuestionMay 24, 2025

Where does net income appear on a worksheet? A. Net income appears only in the income statement debit column. B. Net income appears in the income statement credit column and in the balance sheet debit column. C. Net income appears only in the balance sheet credit column. D. Net income appears in the balance sheet credit column and in the income statement debit column.

Where does net income appear on a worksheet? A. Net income appears only in the income statement debit column. B. Net income appears in the income statement credit column and in the balance sheet debit column. C. Net income appears only in the balance sheet credit column. D. Net income appears in the balance sheet credit column and in the income statement debit column.
Where does net income appear on a worksheet?
A. Net income appears only in the income statement debit column.
B. Net income appears in the income statement credit column and in the balance sheet
debit column.
C. Net income appears only in the balance sheet credit column.
D. Net income appears in the balance sheet credit column and in the income statement
debit column.

Solution
4.4(192 votes)

Answer

B. Net income appears in the income statement credit column and in the balance sheet debit column. Explanation 1. Identify the placement of net income Net income is calculated as revenues minus expenses. It appears in two places on a worksheet: - **Income Statement Credit Column**: Represents the excess of revenues over expenses. - **Balance Sheet Debit Column**: Balances the accounting equation by increasing equity.

Explanation

1. Identify the placement of net income<br /> Net income is calculated as revenues minus expenses. It appears in two places on a worksheet: <br />- **Income Statement Credit Column**: Represents the excess of revenues over expenses.<br />- **Balance Sheet Debit Column**: Balances the accounting equation by increasing equity.
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