Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. before month-end adjustments are made, the februar

Before month-end adjustments are made, the February 28 trial balance of Pronghorns Enterprise contains revenue...

80.2K

Verified Solution

Question

Accounting

Before month-end adjustments are made, the February 28 trial balance of Pronghorns Enterprise contains revenue of $11,220 and expenses of $9,790. Adjustments are necessary for the following items:
Depreciation for February is $1,272.
Revenue earned but not yet billed is $3,304.
Accrued interest expense is $954.
Revenue collected in advance that is now recognized is $2,300.
Portion of prepaid insurance expired during February is $460.
Calculate the correct net income for Pronghorn's Enterprise for the month of February.

Net income $enter the net income in dollars

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

y''' - 7y'' + 15y' - 9y = 8e^(x) - 9x A) Find the fundamental set...

Advance Math
Q

For each molecule or ion below, indicate whether it is polar or nonpolar. For polar...

Chemistry
Q

2. Explain fully the concept of punitive damages. What factors do courts consider in determining whether...

Psychology
Q

Please solve and explain all parts. I don't understand You decide to play a trick on...

Physics
Q

1. The fact that a trumpet and a saxaphone sound different when playing the same fundamental...

Physics
Q

Step 1: Read the Mini-Case Below Control is one of the most controversial aspects of management. Exercising...

Psychology
Q

bomb moving in certain direction suddenly explodes into three identical pieces which fly off with...

Physics
Q

Assume that military aircraft use ejection seats designed for men weighing between 149.3 lb and...

Basic Math
Q

The mirror in an automobile headlight has a parabolic cross-section with the light bulb at...

Basic Math
Q

What is the value of a put option at expiry if the stock price is...

Finance
Q

A company had net income of $350,000 in Year 1 and $520,000 in Year 2....

Accounting
Q

Question 13: they replied return on a stock is 8.75% and the stock has a...

Accounting