Final answer:
A net loss for a firm is displayed within the Income Statement and Balance Sheet columns of the worksheet, where it signifies expenses exceeding revenues and a decrease in owner's equity, respectively.
Step-by-step explanation:
When a firm experiences a net loss, it will be displayed within two columns of the worksheet. These two columns are the Income Statement and the Balance Sheet columns. In the Income Statement column, the net loss is shown as the excess of expenses over revenues, while in the Balance Sheet column, it is entered as a deduction from owner's equity (or retained earnings for corporations) because a net loss decreases the owner's equity.