Kelly Corporation reported Net Income for the year ended December 31, 2019, of $16,900 then discovered that an entry for revenue earned on December 30, 2019, in the amount of $1,400 had not been journalized and posted. What is the Net Income after the correcting journal entry is journalized and posted?
A)$15,500
B)$16,900
C)$14,100
D)$18,300

Question

Quizplus · Accepted Answer

Since the revenue earned on December 30, 2019, in the amount of $1,400 was not journalized and posted, it was not included in the Net Income of $16,900. Therefore, the Net Income after the correcting entry is journalized and posted would be $16,900 + $1,400 = $18,300. Option D is the correct answer.

Kelly Corporation Reported Net Income for the Year Ended December