On a worksheet, the income statement debit column totals $11,000 and the credit column totals $9,500 following statements is correct? A. The company had a net loss of $1,500. B. The company's revenues were greater than expenses. OC. The company had a net income of $1,500. OD. None of the above is correct.
On a worksheet, the income statement debit column totals $11,000 and the credit column totals $9,500 following statements is correct? A. The company had a net loss of $1,500. B. The company's revenues were greater than expenses. OC. The company had a net income of $1,500. OD. None of the above is correct.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On a worksheet, the income statement debit column totals $11,000 and the credit column totals $9,500 following statements is correct?
A. The company had a net loss of $1,500.
B. The company's revenues were greater than expenses.
OC. The company had a net income of $1,500.
OD. None of the above is correct.
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