Question

On the work sheet, the cash balance on the adjusted trial balance will be carried over to the: Balance Sheet Debit column, Balance Sheet Credit column. Income Statement Debit column, or Income Statement Credit column ?

Answer 1

Balance Sheet Debit column,

Step-by-step explanation:

Cash is an asset and it normally has debit balance. It will be shown in the debit column of balance sheet section in the worksheet. All the asset are carried over to the debit column of balance sheet and Liabilities and Equity on the credit column of balance sheet. On the other hand all the expenses are carried to the debit column of Income statement and incomes are carried to the credit columns of the income statement section.