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Which of the following is not true regarding the flow of information from the adjusted trial balance on the end-of-period spreadsheet?

Sagot :

The revenue and expense account balances flow into the income statement.
jayilych4real

The correct statement about the flow of information from the adjusted trial balance on the end-of-period spreadsheet is A. The revenue and expense account balances flow into the income statement.

What is an Adjusted Trial Balance?

This refers to the general ledger balance after some changes have been done an account balance such as accrued expenses, depreciation, etc.

Therefore, we can see that from the complete information, the statement that is false about the adjusted trial balance on the end-of-period spreadsheet is option A because the revenue and expense account balances does not flow into the income statement.

The other options from the complete text are:

  • a. The revenue and expense account balances flow into the income statement.
  • b. The asset and liability account balances flow into the retained earnings statement.
  • c. The revenue and expense account balances flow into the retained earnings statement.
  • d. The retained earnings and dividends account balances flow into the balance sheet.


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