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

question 97

Multiple Choice

After all of the account balances have been extended to the Balance Sheet columns of the end-of-period spreadsheet, the totals of the debit and credit columns show debits of $37,686 and credits of $41,101. This indicates that

• A) neither net income or loss can be calculated because it is found on the income statement
• B) the company has a net loss of $3,415 for the period
• C) the company has a net income of $3,415 for the period
• D) the amounts are out of balance and need to be corrected

---

Definitions:

Jugular

Relating to the neck or throat, especially with reference to veins that carry blood back to the heart.

Premature Ventricular Contractions (PVCs)

Extra, abnormal heartbeats originating from the ventricles of the heart, which can cause the sensation of a skipped beat or palpitations.

Defibrillator

A medical device used to deliver a therapeutic dose of electrical energy to the heart to treat life-threatening cardiac dysrhythmias, especially ventricular fibrillation and ventricular tachycardia.

Low-Density Lipoprotein

Often referred to as "bad" cholesterol, it transports cholesterol particles throughout your body and can build up on the walls of your arteries, potentially leading to heart disease.