Which of the following best describes what happens when a company has
made a profit at the end of an accounting period?
A. The credit amount is higher than the debit amount in the income
statement columns of the worksheet.
B. No amounts have to be entered into the adjustments columns in
the worksheet.
C. The debit amount is higher than the credit amount in the balance
sheet columns of the worksheet.
D. The debit and credit amounts in the adjusted trial balance
columns are equal in the worksheet.

Question

22-09-2022
Business

Answered

Which of the following best describes what happens when a company has
made a profit at the end of an accounting period?
A. The credit amount is higher than the debit amount in the income
statement columns of the worksheet.
B. No amounts have to be entered into the adjustments columns in
the worksheet.
C. The debit amount is higher than the credit amount in the balance
sheet columns of the worksheet.
D. The debit and credit amounts in the adjusted trial balance
columns are equal in the worksheet.

Answer :

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rafikiedu01 rafikiedu01 · Answer 1 · 2022-09-28T09:57:26-04:00

A company has made a profit When the credit amount is higher than the debit amount in the income at the end of an accounting period.

An accounting period, in bookkeeping, is the length almost about which control debts and financial statements are prepared.

In management accounting, the accounting period varies extensively and is decided with the aid of management. monthly accounting durations are common.

In financial accounting, the accounting duration is decided with the aid of regulation and is commonly three hundred and sixty-five days. the start of the accounting period differs in line with jurisdiction. As an instance, one entity may additionally observe the calendar year, January to December, while another might also follow April to March as the accounting period.

learn more about the accounting period here; https://brainly.com/question/26240841

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