After all of the account balances have been extended to the Balance Sheet columns of the work sheet, the totals of the Debit and Credit columns are $32,858 and $20,582, respectively. What is the amount of net income or net loss for the period? a.$20,582 of net income b.$12,276 of net loss c.$32,858 of net loss d.$12,276 of net income

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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After all of the account balances have been extended to the Balance Sheet columns of the work sheet, the totals of the Debit and Credit columns are $32,858 and $20,582, respectively. What is the amount of net income or net loss for the period?

a.$20,582 of net income
b.$12,276 of net loss
c.$32,858 of net loss
d.$12,276 of net income
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