The net income reported on the income statement of Stellar Consulting Services is $85,600. However, adjusting entries have not yet been made at the end of the month for a supplies expense of $4,150 and accrued wages of $7,800. Calculate the corrected net income.
The net income reported on the income statement of Stellar Consulting Services is $85,600. However, adjusting entries have not yet been made at the end of the month for a supplies expense of $4,150 and accrued wages of $7,800. Calculate the corrected net income.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter9: Current Liabilities And Contingent Obligations
Section: Chapter Questions
Problem 1MC: The balance in Ashwood Companys accounts payable account at December 31, 2019, was 1,200,000 before...
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What is the net income for this general accounting question?

Transcribed Image Text:The net income reported on the income statement of Stellar
Consulting Services is $85,600. However, adjusting entries have
not yet been made at the end of the month for a supplies
expense of $4,150 and accrued wages of $7,800.
Calculate the corrected net income.
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