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