. A..A.Aa A A 9 2 board Font Paragraph Styles will increase. Same goes for revenue items and equity. What are footing in accounting? Footing in accounting is the totals of each side of a T account. Also is the final balance when debits and credit on an accounting balance sheet. How are the three financial statements shown in this chapter connected? Income statement: Shows the results of operations of a business for a period of time. It inclu revenue and expense accounts and reports either a net income or a net loss. Statement of owner's equity: Shows the activity in the owner's equity, or capital account for time. Balance sheet: Shows the financial condition of a business at a particular date in time. What is a compound entry? Compound entry is a journal entry that involves more than two accounts. List two reasons why the debits and credits in the trial balance might not balance. PAGE 1 OF 2 328 WORDS 02 Compound erilly is a journal entry that IHVIVES Thule Hart w QLLUS. List two reasons why the debits and credits in the trial balance might not balance