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Calculate the total revenue after adjusting the entries

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Reference no: EM132363364

Making any month-end adjusting entries. The following data are provided regarding adjusting entries.

(A.) Portion of insurance expiring in May, $2,520.

(B.) A customer has used the facilities for two weeks in May; the fee of $4,200 has not yet been billed.

(C.) Amount owed for salaries accrued in the last week of May, $1,650.

(D.) Depreciation on equipment for May $1,290.

(E.) Supplies used in May, $13,125.

(F.) Fees collected in advance which have been earned during May, $23,400.

Complete the schedule to determine the net income of Ocean View Inc. for May after these adjustments have been recorded. Begin your schedule with income before adjusting entries and then show the effect of each adjustment to arrive at net income after adjustment.

Income before adjusting entries.

Adjustments..........

Net income after adjustments.....

1) Calculate the total revenue after adjusting the entries.

2) Calculate total expenses after adjusting entries are made.

3) What is the total net income after adjustments.

Reference no: EM132363364

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