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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

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

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

c. Net income is US$25,0

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