Unadjusted net income equals $8,000. Calculate what net income will be after the following adjustments: 1. Salaries payable to employees, $700 2. Interest due on note payable at the bank, $120 3. Unearned revenue that has been earned, $800 4. Supplies used, $250 Adjusted net income amounts to

Unadjusted net income equals $8,000. Calculate what net income will be after the following adjustments: 1. Salaries payable to employees, $700 2. Interest due on note payable at the bank, $120 3. Unearned revenue that has been earned, $800 4. Supplies used, $250 Adjusted net income amounts to

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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Question

Unadjusted net income equals $8,000. Calculate what net income will be after the following adjustments:
1. Salaries payable to employees, $700
2. Interest due on note payable at the bank, $120
3. Unearned revenue that has been earned, $800
4. Supplies used, $250
Adjusted net income amounts to

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