Which of the following is true regarding the flow of information from the adjusted trial balance on the end-of-period spreadsheet? O a. The revenue and expense account balances flow into the income statement. O b. The revenue and expense account balances flow into the statement of stockholders' equity. O c. The retained earnings and dividends account balances flow into the balance sheet. O d. The asset and liability account balances flow into the statement of stockholders' equity'.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Which of the following is true regarding the flow of information from the adjusted trial balance on the end-of-period spreadsheet?
O a. The revenue and expense account balances flow into the income statement.
O b. The revenue and expense account balances flow into the statement of stockholders' equity.
O c. The retained earnings and dividends account balances flow into the balance sheet.
O d. The asset and liability account balances flow into the statement of stockholders' equity'.
Transcribed Image Text:Which of the following is true regarding the flow of information from the adjusted trial balance on the end-of-period spreadsheet? O a. The revenue and expense account balances flow into the income statement. O b. The revenue and expense account balances flow into the statement of stockholders' equity. O c. The retained earnings and dividends account balances flow into the balance sheet. O d. The asset and liability account balances flow into the statement of stockholders' equity'.
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