Before making its year-end adjustments, the net income for Barton Company was $9

Question

Before making its year-end adjustments, the net income for Barton Company was $98,000. Adjusting
entries are necessary for the following items:

1. Salaries owed to employees at year-end but still unpaid amount to $4,000

2. Interest accrued to December 31 on deposits in the bank totaled $7,000

3. Revenues earned in December that were collected in advance (i.e., prior
to December) totaled $2,800.
---------------

Calculate Barton Company's net income for the year after the necessary adjustments are made.

Explanation / Answer

Net Income before Adj entries $98,000 Add : Int accrued on FD $7000 Less : Salary unpiad ($4000) Less : Rev collected bef Dec ($2800) ------------------------------------------------- Net Inc after Adj entry $98,200 -----------------------------------

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.