Business, 05.03.2020 01:03 belle200163

Hoffman, Inc. adjusts its books each month but closes its books at the end of the year. The trial balance at March 31 before adjustments is as follows:

Debit Credit

Cash $11,000

Accounts Receivable 9,700

Supplies 1,380

Prepaid Insurance 3,440

Equipment 30,600

Accumulated Depreciation: Equipment $12,240

Unearned Service Revenue 6,900

Capital Stock 5,600

Retained Earnings 23,800

Dividends 1,640

Service Revenue Earned 19,590

Salaries Expense 8,200

Utilities Expense 470

Rent Expense 1,700

$68,130 $68,130

According to service contracts, $4,890 of the Unearned Service Revenue has been earned in March. The amount of Service Revenue Earned to be reported in the March income statement is:

a. $19,590

b. $24,480

c. $14,700

d. $23,690

Answers: 1

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Hoffman, Inc. adjusts its books each month but closes its books at the end of the year. The trial ba...

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