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Ellis Ltd accumulates the following adjustment data at 31 December. Assume profit before the adjustments listed above was $16,500. What is the adjusted profit? 1.

Ellis Ltd accumulates the following adjustment data at 31 December. Assume profit before the adjustments listed above was $16,500. What is the adjusted profit?

1. Revenue of $800 collected in advance has now been earned.

2. Salaries of $600 are unpaid.

3. Prepaid rent totalling $450 has expired.

4. Supplies of $550 have been used.

5. Revenue earned but not yet invoiced totals $750.

6. Electricity expenses of $200 are unpaid.

7. Interest of $250 has accrued on a note payable.

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