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Centurion Company had the following accounts and balances at December 31: Account Debit Credit $ 10,000 2,000 Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable т. Нарру, Сарital 2,400 1,000 $ 5,000 4,900 7,000 Service Revenue Salaries Expense 500 Utilities Expense 1,000 Totals $ 16,900 $ 16,900 Using the information in the table, calculate the company's reported net income for the period. Multiple Choice O $1,100. $4,000. $8,500. $10,400.

Centurion Company had the following accounts and balances at December 31: Account Debit Credit $ 10,000 2,000 Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable т. Нарру, Сарital 2,400 1,000 $ 5,000 4,900 7,000 Service Revenue Salaries Expense 500 Utilities Expense 1,000 Totals $ 16,900 $ 16,900 Using the information in the table, calculate the company's reported net income for the period. Multiple Choice O $1,100. $4,000. $8,500. $10,400.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Centurion Company had the following accounts and balances at December 31: Account Debit Credit $ 10,000 2,000 Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable т. Нарру, Саріtal 2,400 1,000 $ 5,000 4,900 Service Revenue 7,000 Salaries Expense 500 Utilities Expense 1,000 Totals $ 16,900 $ 16,900 Using the information in the table, calculate the company's reported net income for the period. Multiple Choice $1,100. $4,000. $8,500. $10,400.
Transcribed Image Text:Centurion Company had the following accounts and balances at December 31: Account Debit Credit $ 10,000 2,000 Cash Accounts Receivable Prepaid Insurance Supplies Accounts Payable т. Нарру, Саріtal 2,400 1,000 $ 5,000 4,900 Service Revenue 7,000 Salaries Expense 500 Utilities Expense 1,000 Totals $ 16,900 $ 16,900 Using the information in the table, calculate the company's reported net income for the period. Multiple Choice $1,100. $4,000. $8,500. $10,400.
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