Asked by

Terrian Smith
on Nov 15, 2024

verifed

Verified

Which of the following items generally has a credit balance in the income statement columns of the worksheet?

A) Purchase Returns and Allowances
B) Purchases
C) Accumulated Depreciation
D) Accounts Payable

Income Statement Columns

The segments within an income statement, separating various components like revenues, expenses, and net income, to display a company's financial performance.

Worksheet

A paper or digital form used by accountants to organize and summarize financial information for a period, aiding in the preparation of financial statements.

  • Determine the regular balance for assorted accounts associated with inventory and income.
verifed

Verified Answer

TB
Trevor BrownNov 17, 2024
Final Answer:
Get Full Answer