Question

worksheet & the accounting cycle math quiz
question 10 of 10: true or false: the value on a worksheet of owners capital in the trial balance column should equal the previous months owners capital plus net income minus any dividends?
a) true
b) false
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Explanation:

To determine the answer, we recall the accounting concept related to the worksheet and owner's capital. The value of owner’s capital in the trial balance column of a worksheet is not equal to the previous month’s owner’s capital plus net income minus dividends. The trial balance column for owner’s capital typically shows the beginning balance (or the balance before considering the current period's net income and dividends), while the calculation of the ending owner’s capital (previous month’s + net income - dividends) is part of the equity section in the balance sheet or the statement of owner’s equity, not directly in the trial balance column of the worksheet. So the statement is False.

Answer:

b) False