Revenue and expense accounts are listed in the Trial Balance section of the worksheet and in the ___________ section of the worksheet.

Matching expenses with revenue in the same period gives a reliable measure of profit by showing the value of resources used to produce revenue.

_______ is the amount of revenue that remains after expenses for the period have been subtracted.

A ___________ is what happens when the total of expenses are more than the total revenue.

Which column is Store Equipment's balance extended to?

Which column is Rent Expense's balance extended to?

Which column is Service Fees Revenue's balance extended to?

Which column is Accounts Payable's balance extended to?

Which column is Scott Lee, Capital's balance extended to?

Which column is Advertising Expense's balance extended to?

Which column is Accounts Receivable's balance extended to?

Which column is Scott Lee, Withdrawal's balance extended to?

Which column is Maintenance Expense's balance extended to?

Which column is Office Supplies' balance extended to?

When there is a net income Capital decreases

When there is a net loss Capital decreases.

Ruling means "drawing a line."

Accounts with a zero balance are not listed on the worksheet.

The length of a company's accounting period can vary (or be different) from other companies.

A ___________ is a working paper used to collect information from the ledger accounts in one place.

Information for the Account Name and Trial Balance sections comes fromt he general ledger accounts.

A trial balance can be prepared at any time during the accounting period to prove the general ledger.

Listing all of the general ledger accounts, even the ones with a zero balance, on the worksheet avoids omitting (leaving out) an account and ensures that the worksheet contains all accounts needed to prepare the financial reports.

It's okay if the totals in the trail balance section don't match.

The debit and credit columns of the income statement columns will always be equal when you rule and total them.

A single rule drawn across the foour Debit and Credit columns indicates that the columns are ready to be added.