Question

The unadjusted net income statement was $46850. After journalizing and posting the adjusted entry for the $2300 of dupplies used during the year, the adjusted net income is

Answer 1

Answer: $44,550

Step-by-step explanation:

Supplies used during the period are treated as expenses to the business so have to be deducted from net income.

If the supplies for the year was $2,300, the net income would be adjusted as follows:

= 46,850 - 2,300

= $44,550