net income
A(n)_____results when revenue is larger than expenses.
Balance Sheet section
The asset, liability, and owner's equity accounts are extended to the _____of the work sheet.
ruling
_____means drawing a single line under a column of amounts.
credit
A net loss is entered in the_____column of the Income Statement section of the work sheet.
Income Statement section
Revenue and expense accounts are listed in the Trial Balance section of the work sheet and in the _____of the work sheet
matching principle
The_____allows a business to match revenue against expenses as a means of measuring profit for the period.
work sheet
A(n)_____is a working paper used to collect information from the general ledger accounts.
trial balance
The first two columns on the work sheet are used to enter the ______.
debit
If there is a net loss for the period, it is entered in the_____column of the Balance Sheet section of the work sheet.
extending
_____is transferring balances from the Trial Balance section of the work sheet to either the Balance Sheet section or the Income Statement section.
net loss
If the total of the credit column of the Income Statement section is less than the debit column, there is a(n)_____for the period.
capital
The amount of net income for the period is added to the Balance Sheet credit total because it increases the balance in the_____account
heading
The_____of the work sheet answers the questions "who," "what," and "when.