Before making month-end adjustments, net income of Bobwhite Company was $232,000 for March. Adjusting entries are necessary for the following items: -Depreciation for the month of March: $4,300.
-Interest income accrued to March 31, on deposits in banks: $900.
-Supplies used in March: $300.
-Fees earned in March that had been collected in advance: $3,600.
After recording these adjustments, net income for March is:
A) $222,900.
B) $227,700.
C) $231,900.
D) $235,600.
Correct Answer:
Verified
Q61: On March 1,Hoffman paid in advance for
Q73: Employees are owed $750 for services since
Q78: The equipment had an estimated useful life
Q83: [The following information applies to the questions
Q85: On December 31,Louis Jeweler's made an adjusting
Q86: Under accrual accounting,salaries earned by employees but
Q88: Gordy's Corp.has seven employees.Each earns $800 per
Q104: Mounder Corp. charges interest on its past
Q111: What should be the balance of Prepaid
Q118: Before any month-end adjustments are made,the net
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents