After All of the Account Balances Have Been Extended to the Income

question 125

Multiple Choice

After all of the account balances have been extended to the Income Statement columns of the end-of-period spreadsheet, the totals of the Debit and Credit columns are $77,500 and $83,900, respectively. What is the amount of the net income or net loss for the period?

• A) $6,400 net income
• B) $6,400 net loss
• C) $83,900 net income
• D) $77,500 net loss

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Definitions:

Manufacturer's PLC

A Programmable Logic Controller designed and produced by a specific manufacturer, serving as a critical component in industrial automation systems.

Powered

Refers to an object or system supplied with or capable of using electrical energy.

AC Output Module

A component in automation systems that interfaces with AC (alternating current) devices, converting digital signals into AC power outputs.