Asked by
Terrian Smith
on Nov 15, 2024Verified
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.
Verified Answer
TB
Learning Objectives
- Determine the regular balance for assorted accounts associated with inventory and income.