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Before month-end adjustments are made, the December 2022 trial balance of Entity I contains revenue of $13,000 and expenses of $9,000 resulting in income before
Before month-end adjustments are made, the December 2022 trial balance of Entity I contains revenue of $13,000 and expenses of $9,000 resulting in income before adjustments of $4,000. Indicate whether the following should be added, subtracted or would have no effect (NE) in arriving at accrual basis net income: Revenue from services performed is $1,200, although it has not yet been billed to the customers. O Subtracted O Added O NE QUESTION 11 Entity H opened in December 2022. On December 20, 2022, Entity H Entity H purchased a new computer (Office Equipment) from Best Buy for $1,000, paying $100 down, the rest on account. On December 27. Entity H paid the Best Buy the amount owing Which of the following is the correct entry on December 277 O Dr. Accounts Payable 900 Cr. Cash O Dr. Office Equipment Cr. Accounts Payable Cr. Cash O Dr Office Equipment Cr. Cash 900 1,000 900 100 900 900 en to save all ansioens 2
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