Question

150 70 A company's December 31 work sheet for the current period appears below. Based on the information provided, what is net income for the current period? Unadjusted Trial Balance Adjustments Debit Credit Debit Credit Cash 975 Accounts receivable 300 Prepaid insurance 3,600 Supplies 180 Equipment. 10,320 Accumulated depreciation equipment 190 Accounts payable 1,140 Salaries payable 315 Unearned fees 4,500 375 Owner, Capital 9,180 Owner, Withdrawals 1.650 Fees earned 5,850 375 300 1.500 2.100 345 Rent expense Salaries expense Utilities expense 315

Answer 1

computation 4 Net Income for the Current period particular Assount Amount $ Revenises fees earned 5850 unearned tees Received. 375 othe fees earned (during year) 300 Total Income (A) 6525 Expenses. Rent Expenses. + 1500 2100 salary Expenses + outstand Salary (paid) 3 15 2015

Amount Amount $ 3 us 150 particular utilities Expenses. Insurance Expenses. ( Incured) Supplies Expenses depreciation Expenses 70 I go 4670 Total Expenses. (B) 1855 Net Income (A-B)

is option eĖ " = $1855 Atere Answer
ASSUMPTION ARE MADE ON FEES RECEIVED .

IF YOU WANT TO ADD THE AMOUNT DIRECT IS WOULD BE RIGHT

FOR BETTER UNDERSTANDING , WE MAKE ASSUMPTIONS ON ACCOUNT NAME .