The unadjusted net income on the income statement was $64,916. After journalizing and posting the adjusting entries for expired insurance during the year of $3,400 and for supplies used during the year of $1,480, the adjusted net income is:
A)$69,796.
B)$61,516.
C)$64,916.
D)$60,036.

Question

Quizplus · Accepted Answer

The Answer of The unadjusted net income on the income statement was $64,916. After journalizing and posting the adjusting entries for expired insurance during the year of $3,400 and for supplies used during the year of $1,480, the adjusted net income is:
A)$69,796.
B)$61,516.
C)$64,916.
D)$60,036.

The Unadjusted Net Income on the Income Statement Was $64,916