What is the net incom? DMJ company's December 31 work sheet for the current period appears below.UnadjustedAdjustmentsTrial BalanceDebitCreditDebitCreditCash1075Accounts receivable300Prepaid insurance4,600150Supplies20070EquipmentAccumulated depreciation-equipment11,320190Accounts payable1,240Salaries payable315Unearned fees5,500375Owner, Capital10,200Owner, Withdrawals2,650Fees earned8,850375300Rent expense3,500Salaries expense2,100315Utilities expense345Insurance expense150Supplies expense70Depreciation expense-equipment190Totals25.79025,7901,4001,400

Net Income refers to the income generated by the firm during the period after paying off its revenue…

DMJ company's December 31 work sheet for the current period appears below. Unadjusted Adjustments Trial Balance Debit Credit Debit Credit Cash 1075 Accounts receivable 300 Prepaid insurance 4,600 150 Supplies Equipment Accumulated depreciation- equipment Accounts payable 200 70 11,320 190 1,240 Salaries payable 315 Unearned fees 5,500 375 Owner, Capital Owner, Withdrawals 10,200 2,650 Fees earned 8,850 375 300 Rent expense 3,500 Salaries expense Utilities expense 2,100 315 345 Insurance expense 150 Supplies expense 70 Depreciation expense-equipment 190 Totals 25,790 25,790 1,400 1,400

DMJ company's December 31 work sheet for the current period appears below. Unadjusted Adjustments Trial Balance Debit Credit Debit Credit Cash 1075 Accounts receivable 300 Prepaid insurance 4,600 150 Supplies Equipment Accumulated depreciation- equipment Accounts payable 200 70 11,320 190 1,240 Salaries payable 315 Unearned fees 5,500 375 Owner, Capital Owner, Withdrawals 10,200 2,650 Fees earned 8,850 375 300 Rent expense 3,500 Salaries expense Utilities expense 2,100 315 345 Insurance expense 150 Supplies expense 70 Depreciation expense-equipment 190 Totals 25,790 25,790 1,400 1,400

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter12: Intangibles

Section: Chapter Questions

Problem 10MC

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