After the adjusting entries are journalized and posted to the accounts in the general ledger, the balance of each account should agree with the balance shown on the

• adjusted trial balance.

• post-closing trial balance.

• the general journal.

• adjustments columns of the worksheet.

If the total debit column exceeds the total credit column of the income statement columns on a worksheet, then the company has

• earned net income for the period.

• an error because debits do not equal credits.

• suffered a net loss for the period.

• to make an adjusting entry.

A worksheet is a multiple column form that facilitates the

• identification of events.

• measurement process.

• preparation of financial statements.

• analysis process.

Computing net income on the worksheet occurs in step

• two.

• three.

• four.

• five.

A worksheet can be thought of as a(n)

• permanent accounting record.

• optional device used by accountants.

• part of the general ledger.

• part of the journal.

The Supplies account appears in which of the following debit columns of the worksheet?

• Trial balance

• Adjusted trial balance

• Statement of financial position

• All of these answer choices are correct.

When constructing a worksheet, accounts are often needed that are not listed in the trial balance already entered on the worksheet from the ledger. Where should these additional accounts be shown on the worksheet?

• They should be inserted in alphabetical order into the trial balance accounts already given.

• They should be inserted in chart of account order into the trial balance already given.

• They should be inserted on the lines immediately below the trial balance totals.

• They should not be inserted on the trial balance until the next accounting period.

When using a worksheet, adjusting entries are journalized

• after the worksheet is completed and before financial statements are prepared.

• before the adjustments are entered on to the worksheet.

• after the worksheet is completed and after financial statements are prepared.

• before the adjusted trial balance is extended to the proper financial statement columns.

Assuming that there is a net loss for the period, debits equal credits in all but which section of the worksheet?

• Income statement columns

• Adjustments columns

• Trial balance columns

• Adjusted trial balance columns

Adjusting entries are prepared from

• source documents.

• the adjustments columns of the worksheet.

• the general ledger.

• last year's worksheet.