Q. 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 4270
  • Answered By Cassandra Feidt

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