The net income reported on the income statement is $88-648- However- a.docx
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The net income reported on the income statement is $88-648- However- a.docx
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The net income reported on the income statement is $88,648. However, adjusting entries have not been made at the end of the period for supplies expense of $4,948 and accrued salaries of $3,447. Determine the net income, as corrected. Solution Net Profit =88648 Less: Accrued Salaries =3447 Net Profit=$85201 Entry for supplies expense is not required because opening and purchases and closing is already recording which will take the effect of supplies. .
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The net income reported on the income statement is $88-648- However- a.docx
- The net income reported on the income statement is $88,648. However, adjusting entries have not been made at the end of the period for supplies expense of $4,948 and accrued salaries of $3,447. Determine the net income, as corrected. $83,700 $88,648 $85,201 $80,253 Solution Net Profit =88648 Less: Accrued Salaries =3447 Net Profit=$85201 Entry for supplies expense is not required because opening and purchases and closing is already recording which will take the effect of supplies.