Business, 12.02.2020 04:14 alyssaxsanchez

Hoffman, Inc. adjusts its books each month but closes its books at the end of the year. The trial balance at March 31 before adjustments is as follows:

Debit Credit
Cash $11,000
Accounts Receivable 9,700
Supplies 1,380
Prepaid Insurance 3,440
Equipment 30,600
Accumulated Depreciation: Equipment $12,240
Unearned Service Revenue 6,900
Capital Stock 5,600
Retained Earnings 23,800
Dividends 1,640
Service Revenue Earned 19,590
Salaries Expense 8,200
Utilities Expense 470
Rent Expense 1,700
$68,130 $68,130
According to service contracts, $4,890 of the Unearned Service Revenue has been earned in March. The amount of Service Revenue Earned to be reported in the March income statement is:

a. $19,590

b. $24,480

c. $14,700

d. $23,690

Answers: 3

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Hoffman, Inc. adjusts its books each month but closes its books at the end of the year. The trial ba...

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