When do I need to double underline on a financial statement?

Answer

When completing a financial statement, the following are common uses for the double underline in Excel:

  • Income Statement - DU Net Income (bottom number)

  • Statement of RE - DU ending RE (bottom number)

  • Balance Sheet - DU for Total Assets AND Total Liabilities and Equity (one line item)

  • Statement of Cash Flows - DU Ending Cash Balance at the bottom of the statement

  • At the end of a journal page to show debits and credits have been verified and they balance.

Also see the following video demonstration of underlining on a financial statement:

Media

  • Last Updated Sep 08, 2017
  • Views 17120
  • Answered By Cassandra Feidt, Learning Services Coordinator

FAQ Actions

Was this helpful? 4 9

Hello! We're here to help! Please log in to ask your question.

Log in
Ask Us!

Need an answer now? Search our FAQs!

How can I find my course textbook?

You can expect a prompt response, Monday through Friday, 8:00 AM-4:00 PM Central Time (by the next business day on weekends and holidays).

Questions may be answered by a Librarian, Learning Services Coordinator, Instructor, or Tutor. 

Fields marked with * are required.