s Question Completion Status Question 1 Answer the question

s Question Completion Status: Question 1 Answer the question based on the following adjasted trial balance Debit Credit Cash Accounts receivable Inventory Prepaid rent Equipment Accumulated depreciation-equipmernt Accounts payable Unearned service revenue Common stock Retained earnings Service revenue Interest revenue Salaries and wages expense Travel expense $9,372 12,588 18,744 516 1,800 312 492 732 1,236 39,660 1,608 336 960 Total 44.376 $44.376 Net income for the year is: O a. $2,976 O b. $1,944 ?. $1,620. e. None of the above here to search

Solution

d. $ 588

working:

Calculation of Net Income:
Service Revenue			$       1,608
Interest Revenue			$ 336
Total Revenue				$       1,944
Salaries and Wages Expense		$ 960
Travel Expense			$ 396
Total Expense				$       1,356
Net Income				$ 588