The Income Statement Columns on a Worksheet Have Subtotals as Follows

question 13

Multiple Choice

The income statement columns on a worksheet have subtotals as follows: debit column, $12,000, and credit column, $9,300. This indicates that:

• A) the company incurred a net loss of $2,700.
• B) the company earned a net income of $2,700.
• C) there was an error in the unadjusted trial balance columns.
• D) there was an error in the income statement columns.

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Definitions:

Wat Chai Wattanaram

A historic Buddhist temple located in Ayutthaya, Thailand, known for its distinctive Khmer architecture and as a major monument of the Ayutthaya kingdom.

Stupa Towers

Buddist commemorative monuments typically housing sacred relics and used as a place of meditation, notable for their hemispherical domes.

Thai Temple Complexes

Architectural and religious complexes in Thailand, typically Buddhist, consisting of a collection of buildings such as stupas, viharas, and ordination halls.

Transitory Change

Temporary alterations in economic or financial variables that do not have lasting effects on the overall system.