Able Industries Has the Following Information Related to Its Adjusting

question 121

Multiple Choice

Able Industries has the following information related to its adjusting entries at the end of December.
.On December 31, 2018, the insurance expired amounted to $100.
.Of the unearned revenue, $300 of services had been performed.
What is the net effect that the necessary adjusting entries for this information have on net income for Able?

• A)$400 increase.
• B)$400 decrease.
• C)$200 increase.
• D)$200 decrease.

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