hard · Financial Accounting accounting-cycle-financial-statements

What does this pattern indicate, and what is the period's result?

1. A $50,000 net loss; the income-statement debit total exceeds its credit total, which is balanced by the larger balance-sheet credit column.
2. A $50,000 net income; the income-statement credit total exceeds its debit total, and the balancing figure is added to the balance-sheet debit column.
3. A worksheet error of $50,000, because the income-statement and balance-sheet column pairs do not internally balance to equal amounts before the net figure is entered.
4. A $50,000 net income; the balancing figure is added to the balance-sheet credit column to make both statement sections balance.

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