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The balance of revenue and expenses of Tasty Beverages Inc before the month-end adjustments are $27,300 and $17, 340 respectively. The following adjustments relate to Tasty Beverages Inc: The portion of prepaid insurance applicable to February is $2,700, depreciation for the month is $1,440, Portion of fees collected in advance earned in February, is $3,300. Fees earned in February, not yet billed to customers, $1900. Net income for February is: $11,670 11.020 $10.560 97,700

The balance of revenue and expenses of Tasty Beverages Inc before the month-end adjustments are $27,300 and $17, 340 respectively. The following adjustments relate to Tasty Beverages Inc: The portion of prepaid insurance applicable to February is $2,700, depreciation for the month is $1,440, Portion of fees collected in advance earned in February, is $3,300. Fees earned in February, not yet billed to customers, $1900. Net income for February is: $11,670 11.020 $10.560 97,700

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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The balance of revenue and expenses of Tasty Beverages Inc before the month-end adjustments are $27,300 and $17, 340 respectively. The following adjustments relate to Tasty Beverages Inc: The portion of prepaid insurance applicable to February is $2,700, depreciation for the month is $1,440, Portion of fees collected in advance earned in February, is $3,300. Fees earned in February, not yet billed to customers, $1900. Net income for February is: $11,670 11.020 $10.560 97,700
Transcribed Image Text:The balance of revenue and expenses of Tasty Beverages Inc before the month-end adjustments are $27,300 and $17, 340 respectively. The following adjustments relate to Tasty Beverages Inc: The portion of prepaid insurance applicable to February is $2,700, depreciation for the month is $1,440, Portion of fees collected in advance earned in February, is $3,300. Fees earned in February, not yet billed to customers, $1900. Net income for February is: $11,670 11.020 $10.560 97,700
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