| A | B |
|---|
| Worksheet | Working paper from the ledger accounts used in completing end-of-period activities |
| Heading | Who? What? When? |
| Single Rule | Line drawn under column of figures indicated entries above the rule are to be added or subtracted |
| Double Rule | If an amount is a total and no further processing is needed, a double line is drawn under it |
| Balance Sheet Section | Asset, liability, and OE amounts are transferred, or extended, from this form |
| Income Statement Section | Revenue and expense amounts are transferred, or extended, from this form |
| Matching Principle | Expenses incurred in an accounting period are matched with revenue earned in the same period |
| Income Statement Net Income | Shown under the debit column |
| Income Statement Net Loss | Shown under the credit column |
| Net Loss | Amount which total expenses exceed total revenue for accounting period |
| Net Income | Amount which total revenue exceed total expenses for accounting period |
| Balance Sheet/Income Statement | Both organized on the worksheet and prepared at the end of the accounting period |
| OE | Owner's Equity |
| In Balance | Total debits should equal total credits |
