Where Does Net Income Appear on a Worksheet

question 9

Multiple Choice

Where does Net Income appear on a worksheet?

• A)Net income appears only in the income statement debit column.
• B)Net income appears in the balance sheet credit column and in the income statement debit column.
• C)Net income appears in the income statement credit column and in the balance sheet debit column.
• D)Net income appears only in the balance sheet credit column.

---

Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a fixed asset since it was put into use.

Investing Activities

Part of a company's cash flow statement that reports the purchase and sale of long-term investments and property, plant, and equipment.

Gain

Gain refers to an increase in economic benefits or inflow of assets that result in an increase in equity, not related to contributions from equity participants.

Office Equipment

Assets like computers, desks, and chairs used in an office to carry out operations, not immediately consumed in the production process.