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:

Was this helpful? 4 10

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

Ask Us!

Need an answer now? Search our FAQs!

What is your question concerning? *

Question *

More Detail/Explanation

Please provide your Rasmussen email address so we can reply to your question. *

Which program are you enrolled in? *

Receive an email confirmation of your submission.

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.

*Veteran's Day -Monday, November 11

Questions submitted after 4:00PM Central on Friday, November 8 will receive responses on the next business day (Tuesday, November 12).

Fields marked with * are required.