Question
MegaTech Company has total monthly revenues of $325,000 and expenses of $198,000 for the month ended July 31 before monthly adjusting entries are made. The
b. Unbilled amounts to customers for July is $4,200.
c. Salaries earned by employees but not yet paid by MegaTech for the last week of July, $13,125.
d. Depreciation on equipment for July, $1,290.
e. Supplies used in July, $1,650.
f. Fees collected in advance from customers which have now been earned during July, $23,400.
Determine the profit of MegaTech for July after these adjustments are recorded.
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College Accounting A Contemporary Approach
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