Balance Sheet and Statement of Owner's Equity columns of a work sheet fail to nce when the net income is added to the Balance Sheet and Statement of Owner's y Credit column, the cause could be: A revenue entered in the Balance Sheet and Statement of Owner's Equity Credit column. A liability amount entered in the Income Statement and Statement of Owner's Equity Credit column. An expense entered in the Balance Sheet and Statement of Owner's Equity Debit column. An asset amount entered in the Income Statement and Statement of Owner's Equity Debit column. An expense entered in the Balance Sheet and Statement of Owner's Equity Credit column. Clear my choice

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Balance Sheet and Statement of Owner's Equity columns of a work sheet fail to
nce when the net income is added to the Balance Sheet and Statement of Owner's
ty Credit column, the cause could be:
A revenue entered in the Balance Sheet and Statement of Owner's Equity Credit
column.
A liability amount entered in the Income Statement and Statement of Owner's
Equity Credit column.
An expense entered in the Balance Sheet and Statement of Owner's Equity Debit
column.
An asset amount entered in the Income Statement and Statement of Owner's
Equity Debit column.
An expense entered in the Balance Sheet and Statement of Owner's Equity Credit
column.
Clear my choice
Transcribed Image Text:Balance Sheet and Statement of Owner's Equity columns of a work sheet fail to nce when the net income is added to the Balance Sheet and Statement of Owner's ty Credit column, the cause could be: A revenue entered in the Balance Sheet and Statement of Owner's Equity Credit column. A liability amount entered in the Income Statement and Statement of Owner's Equity Credit column. An expense entered in the Balance Sheet and Statement of Owner's Equity Debit column. An asset amount entered in the Income Statement and Statement of Owner's Equity Debit column. An expense entered in the Balance Sheet and Statement of Owner's Equity Credit column. Clear my choice
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