Question: The following items appeared on December 31 Excel work sheet. Based on the following information, what is profit for the year? Account Adjustments Dr Adjusted

 The following items appeared on December 31 Excel work sheet. Based
on the following information, what is profit for the year? Account Adjustments

The following items appeared on December 31 Excel work sheet. Based on the following information, what is profit for the year? Account Adjustments Dr Adjusted Trial Balance Dr. Cr 150 70 Cash Prepaid insurance Supplies Equipment Accounts payable Unearned fees Owner, capital Owner, withdrawals Fees earned Unedjusted Trial Balance Dr. Cr 975 3.600 180 10,320 11401 4,500 9,180 1650 5.850 375 (3751 (300 315 1,500 2,1001 345 Rent expense Salaries expense Utilities expense nsurance expense Supplies expense Depreciation expense, equipment Accumulated depreciation, equipment Salaries payable Accounts receivable Total 150 70 190 190 315 300 1400 20670 20.670 1.400 Multiple Choice O $2.000 14620 Prov Na (300 315 1500 2,100 345 Rent expense Salaries expense Utilities expense Insurance expense Supplies expense Depreciation expense, equipment Accumulated depreciation, equipment Salaries payable Accounts receivable Total 150 701 190 190 315 20.670 20670 300 1400 1.400 Multiple Choke O $2060 O $4,670 a $1723 O $1855 $4.125 e here to search O

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!