Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Before month-end adjustments are made, the September 30 trial balance of Blue Spruce Company contains revenue of $9,936 and expenses of $7,540. Adjustments are necessary

Before month-end adjustments are made, the September 30 trial balance of Blue Spruce Company contains revenue of $9,936 and expenses of $7,540. Adjustments are necessary for the following items:

Supplies used during September is $324.
Revenue earned but not yet billed is $2,016.
Accrued interest expense is $640.
Revenue collected in August and earned during September is $3,332.
Portion of prepaid rent expired during September is $312.

Calculate the correct net income for Blue Spruce Company for September.

Net income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

How To Build A Cyber Resilient Organization Internal Audit And IT Audit

Authors: Dan Shoemaker, Anne Kohnke, Ken Sigler

1st Edition

1138558192, 978-1138558199

More Books

Students also viewed these Accounting questions

Question

The amount of work I am asked to do is reasonable.

Answered: 1 week ago

Question

The company encourages a balance between work and personal life.

Answered: 1 week ago