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Before month-end adjustments are made, the February 28 trial balance of Pronghorn s Enterprise contains revenue of $ 11,220 and expenses of $ 9,790 .
Before month-end adjustments are made, the February 28 trial balance of Pronghorns Enterprise contains revenue of $11,220 and expenses of $9,790. Adjustments are necessary for the following items:
Calculate the correct net income for Pronghorn's Enterprise for the month of February.
Depreciation for February is $1,272. | ||
Revenue earned but not yet billed is $3,304. | ||
Accrued interest expense is $954. | ||
Revenue collected in advance that is now recognized is $2,300. | ||
Portion of prepaid insurance expired during February is $460. |
Calculate the correct net income for Pronghorn's Enterprise for the month of February.
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