A company had calculated net income to be $77,550 based on the unadjusted trial balance.The following adjusting entries were then made for:
-Salaries and wages owed but not yet paid of $790
-Interest earned but not received from investments of $750
-Prepaid insurance premiums amounting to $550 have expired
-Unearned revenue in the amount of $750 has now been earned.
Required:
Determine the amount of net income (loss)that will be reported after the adjustments are recorded.

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The Answer of A company had calculated net income to be $77,550 based on the unadjusted trial balance.The following adjusting entries were then made for:
-Salaries and wages owed but not yet paid of $790
-Interest earned but not received from investments of $750
-Prepaid insurance premiums amounting to $550 have expired
-Unearned revenue in the amount of $750 has now been earned.
Required:
Determine the amount of net income (loss)that will be reported after the adjustments are recorded.

A Company Had Calculated Net Income to Be $77,550 Based