If the Balance Sheet and Statement of Owner's Equity Columns

question 35

Multiple Choice

If the Balance Sheet and Statement of Owner's Equity columns of a work sheet fail to balance when the net income is added to the Balance Sheet and Statement of Owner's Equity Credit column, the cause could be:

• A) An expense entered in the Balance Sheet and Statement of Owner's Equity Credit column.
• B) A liability amount entered in the Income Statement and Statement of Owner's Equity Credit column.
• C) An expense entered in the Balance Sheet and Statement of Owner's Equity Debit column.
• D) A revenue entered in the Balance Sheet and Statement of Owner's Equity Credit column.
• E) An asset amount entered in the Income Statement and Statement of Owner's Equity Debit column.

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