The unadjusted net income on the income statement was $46,850. After journalizing and posting the adjusting entry for the $2,300 of supplies used during the year, the adjusted net income is:
A)$46,850.
B)$44,550.
C)$49,150.
D)$45,700.

Question

Quizplus · Accepted Answer

Adjusting for the $2,300 of supplies used reduces the net income by that amount, so $46,850 - $2,300 = $44,550.

The Unadjusted Net Income on the Income Statement Was $46,850