Answered

Find expert advice and community support for all your questions on IDNLearn.com. Ask any question and get a thorough, accurate answer from our community of experienced professionals.

The Income Statement columns in the end-of-period spreadsheet show that debits are equal to $29,264 and credits are $63,411. What does this information mean to the accountant

Sagot :

Answer:

Net income of $34,147

Explanation:

Given that

the debits are $29,264

And, the credits are $63,411

We need to find out from the above information that what means to the accountant

As we know that the expenses comes in debit side and the revenues comes in credit side

So here revenue is more than the expenses

SO, there is the net income of

= $63,411 - $29,264

= $34,147

Your participation is crucial to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. Thank you for visiting IDNLearn.com. We’re here to provide clear and concise answers, so visit us again soon.