Question: When completing a worksheet: whats the correct answer? a. the ending inventory amount appears in the income statement debit column. b. the beginning inventory amount

When completing a worksheet: whats the correct answer?

a. the ending inventory amount appears in the income statement debit column.

b. the beginning inventory amount appears in the adjustment credit column.

c. the ending inventory amount appears in the unadjusted trial balance debit column of the worksheet.

d. the beginning inventory amount appears in the balance sheet debit column of the worksheet.

The income statement columns on a worksheet have subtotals as follows: debit column, $12,000, and credit column, $9,000. This indicates that:whats the correct answer?

a.the company incurred a net loss of $3,000.

b.the company earned a net income of $1,500.

c.there was an error in the unadjusted trial balance columns.

d.there was an error in the income statement columns.

On the worksheet the beginning Merchandise Inventory account appears in:whats the correct answer?

a.the adjustment column.

b.the trial balance and the balance sheet columns.

c. the trial balance and adjustment columns.

d.All of these answers are correct

The income summary amounts in the income statement columns of the worksheet represent: whats the correct answer?

a.income for the period.

b.adjustment for unearned revenue.

c.closing of the Capital account.

d.beginning and ending inventory.

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