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A Company Had Calculated Net Income to Be $77,550 Based

question 125

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A company had calculated net income to be $77,550 based on the unadjusted trial balance.The following adjusting entries were then made: Salaries payable of $790 was recorded;Interest earned but not received from investments $750;Prepaid insurance decreased by $550 for insurance used up during the period;$750 of Unearned revenue has now been earned.After recording these adjustments,net income would be:


Definitions:

Modeling

The process of representing or simulating real-world processes, systems, or behaviors through mathematical equations, physical replicas, or computer simulations.

Operant Conditioning

A training technique by which behavior's robustness is adjusted by means of encouragement or disciplinary measures.

Skinner

B.F. Skinner, a prominent psychologist known for his work in developing the theory of behaviorism and conducting research on operant conditioning.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment.

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