23.  A debit column total greater than the credit column total under the Income Statement portion of the work sheet would mean:*The Income Summary account will have a credit balance after the nominal accounts are closed.b. Mistakes were made in the preparation of the adjusted trial balance.c. The company had a profitable year.d. The company had a loss this year.

After net income is entered on the work sheet, the Balance Sheet debit and credit columns mustGroup of answer choicesbe the same amount as the total amount of the Income Statement debit and credit columnsequal each otherbe the same amount as the total amount in the Adjusted Trial Balance debit and credit columnsnot be equal to each other and need not be the same total amounts as any other pair of columns on the work sheet

If the sum of the debit column equals the sum of the credit column in a trial balance, it indicates: Group of answer choices no errors have been made. no errors can be discovered. that all accounts reflect correct balances. the mathematical equality of the accounting equation.

Which of the statements below indicates that a company earned a net income for the period?Group of answer choicesThe sum of the credits exceeds the sum of the debits in the Balance Sheet columns on the work sheet.The sum of the credits exceeds the sum of the debits in the Income Statement columns on the work sheet.The sum of the debits exceeds the sum of the credits in the Income Statement columns on the work sheet.Cash inflows exceeded cash outflows.

Which situation indicates a net loss on the income statement?*a. Total debits exceed total creditsb. total debits equal total creditsc. total credits exceed total debitsd. none of these.

When a work sheet is complete, the adjustment columns should haveGroup of answer choicestotal credits greater than total debits if a net income was earnedtotal debits greater than total credits if a net loss was incurredtotal debits greater than total credits if a net income was earnedtotal debits equal total credits