The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals: Income S

The income statement and balance sheet columns of Pine Company's worksheet reflects the following totals: Income Statement Balance Sheet Dr. Cr. Dr. Cr. Totals $58,000 $48,000 $34,000 $44,000 The net income (or loss) for the period is

A. not determinable
B. $10,000 loss
C. $10,000 income
D. $48,000 income
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B. $10,000 loss

just subtract the difference on each of the reports, for example, 34,000 - 44,000 = a 10,000 loss.

answered 2 years ago

BSBGrad2007






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