Kenham Co Was Organized on April 1, 2022 In Which Worksheet Column Will the Net Income Amount Be
Question 125
Question 125
Multiple Choice
Kenham Co. was organized on April 1, 2022. The company prepares monthly financial statements. The adjusted trial balance amounts in the April 30 worksheet are shown below. Cash Accounts Receivable Prepaid Insurance Supplies Equipment Owner’s Drawings Salaries and Wages Expense Insurance Expense Depreciation Expense Supplies Expense Utilities Expense Interest Expense Debit$6,7006001,8001,00015,0006009,4001,20085020051050$37,910 Accumulated Depreciation- Equipment Notes Payable Accounts Payable Salaries and Wages Payable Interest Payable Owner’s Capital Service Revenue Rent Revenue Credit 8505,0001,51040055013,00015,800800$37,910 In which worksheet column will the net income amount be entered?
A) Adjusted trial balance debit. B) Income statement credit. C) Balance sheet credit. D) Balance sheet debit.
Correct Answer:
Verified
Unlock this answer now Get Access to more Verified Answers free of charge