The net income reported on the income statement is 46000 How

The net income reported on the income statement is $46,000. However, adjusting entries have not been made at the end of the period for supplies expense of $1,100 and $2,900. Net income, as corrected, is 7. accrued salaries of

Solution

Net income before correction 46000 Less: Adjustments: Supplies expense 1100 Accrued salaries 2900 4000 Net income, as corrected 42000