If the total of the income statement columns of the work sheet are US$300,0 debit and US$325,0 credit the?

a. Net income is US$300,0 b. Net income is US$325,0 c. Net income is US$25,0 d. Net loss is US$25,0

Question added by SREEDEVI SUNILKUMAR , Business finance officer , Emirates Airline
Date Posted: 2014/03/12

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by Mark John Domingo , General Accountant , Palma Holding

C. Net Income of $25,000

Debit represents Expenses and Losses while Credit represents the revenue, income, gains

by shah jahan , Manager Audit and Accounts , Mohsin & Co Chartered Accountants

c. Net income is US$25,0

The purpose of the income statement is to show the:
Top Answer: D. It shows the net profit or loss over the period See More

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When balance sheet amount is related to an income statement amount in computing a ratio?
Top Answer: A. Balance sheet amount should be converted to an average for the year See More

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The result that will be disclosed in the income statement is: -
Top Answer: A. GAIN20 See More

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The purpose of the income statement?
Top Answer: <h3>True. An Income Statement presents the results of business operations for a given period. It pr ... See More

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