In work sheet Net loss of $ 100,000 should be shown as a. Debit balance in the adjusted trial balance O b. Debit balance in the Balance sheet O . Credit balance in Balance sheet O d. Debit balance in income statement 10 An unacceptable way to make a correcting entry is to O a. Reverse the incorrect entry O b. Erase (delete) the incorrect entry O. Correct it immediately upon discovery O d. Compare the incorrect entry with the correct entry and make a correcting entry 9.

In work sheet Net loss of $ 100,000 should be shown as a. Debit balance in the adjusted trial balance O b. Debit balance in the Balance sheet O . Credit balance in Balance sheet O d. Debit balance in income statement 10 An unacceptable way to make a correcting entry is to O a. Reverse the incorrect entry O b. Erase (delete) the incorrect entry O. Correct it immediately upon discovery O d. Compare the incorrect entry with the correct entry and make a correcting entry 9.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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