Business, 08.02.2021 18:50 shymitch32
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:
DebitCredit
Cash$11,000
Accounts Receivable9,700
Supplies1,380
Prepaid Insurance3,440
Equipment30,600
Accumulated Depreciation: Equipment $12,240
Unearned Service Revenue 6,900
Capital Stock 5,600
Retained Earnings 23,800
Dividends1,640
Service Revenue Earned 19,590
Salaries Expense8,200
Utilities Expense470
Rent Expense1,700
$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: 3
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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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