Rubino Company reported net income of ($ 100,000) for the current year. Examination of the work sheet

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Rubino Company reported net income of $\$ 100,000$ for the current year. Examination of the work sheet and supporting data indicates that the following items were ignored:

1. Accrued salaries were $\$ 6,000$ at December 31 .

2. Depreciation on equipment acquired on July 1 amounted to $\$ 4,000$.

Based on this information,

(a) what adjusting journal entries should have been made at December 31, and

(b) what is the correct net income?

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Financial Accounting A Business Perspective

ISBN: 9780072289985

7th Edition

Authors: Roger H. Hermanson, James Don Edwards

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Question Posted: Jun 14, 2024 01:39 AM

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Rubino Company reported net income of ($ 100,000) for the current year. Examination of the work sheet

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Financial Accounting A Business Perspective

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