9. A retail business was started by Mr. X in form of sole proprietorship. Initially, he started his business with a capital of $210,000. As part of the expansion of his business, he further invested a capital of $83,000 by way of bringing in furniture and other equipment. While preparing the capital account of Mr. X, on which side the furniture and other equipment would be recorded? a) Both sides of the capital account. b) Not recorded in the capital account. c) Debit side of capital account. d) Credit side of capital account.

10. Before month-end adjustments are made, the February 28 trial balance of Neutral Milk Hotel contains revenue of $6,000 and expenses of $4,400. Adjustments are necessary for the following items: - Depreciation for February is $1,800 - Revenue earned but not yet billed is $2,700 - Accrued interest expense is $700 - Revenue collected in advance that is now earned in $2,500 - Portion of prepaid insurance expired during February is $400 Calculate the correct net income for February