Income calculation

Kashif Khan (Senior Financial Analyst/ Web Developer/Illustrator/Social Activist)   (78 Points)

05 April 2013  

Before month end adjustments are made, the September 30 trial balance of Horton Enterprise contains revenue of $9,200 and expenses of $6,300. Adjustments are necessary for the following items: 

a. Depreciation for September is $300 

b. Revenue earned but not yet billed is $2,100 

c. Accrued interest expense is $800 

d. Revenue collected in advance that is now earned is $3,400 

e. Portion of prepaid insurance expired during September is $300